UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report Pursuant to Section 13 or 15(d) of
The Securities Act of 1934
Date of Report (Date of earliest event reported) August 18, 1999
(Exact name of registrant as specified in its charter)
DST Systems, Inc.
(State or other (Commission (I.R.S. Employer
jurisdiction File Number) Identification No.)
of incorporation)
Delaware 1-14036 43-1581814
333 West 11th Street, Kansas City, Missouri 64105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (816) 435-6568
Not Applicable
(Former name or former address, if changed since last report.)
<PAGE>
FORM 8-K
DST SYSTEMS, INC.
ITEM 1 CHANGES IN CONTROL OF REGISTRANT
Not applicable.
ITEM 2 ACQUISITION OR DISPOSITION OF ASSETS
Not applicable.
ITEM 3 BANKRUPTCY OR RECEIVERSHIP
Not applicable.
ITEM 4 CHANGES IN REGISTRANT'S CERTIFYING ACCOUNTANT
Not applicable.
ITEM 5 OTHER EVENTS
See attached as an Exhibit to this Form 8-K a News Release released August 18,
1999 concerning the expansion of DST's program to repurchase shares for use
under various option and benefit plans.
ITEM 6 RESIGNATIONS OF REGISTRANT'S DIRECTORS
Not applicable.
ITEM 7 FINANCIAL STATEMENTS AND EXHIBITS
Not applicable.
ITEM 8 CHANGE IN FISCAL YEAR
Not applicable.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DST Systems, Inc.
/s/ Robert C. Canfield
Senior Vice President, General Counsel,
Secretary
Date: August 20, 1999
August 18, 1999
DST Systems, Inc. (DST) announced today the expansion of its previously
announced 600,000 share repurchase program under which 425,000 shares remain to
be repurchased. The expansion authorizes repurchase of an additional 3,575,000
shares of DST common stock which, when added to the 425,000 shares remaining to
be purchased under the earlier program results in a program to repurchase
4,000,000 shares over a twenty-four month period beginning in September 1999.
Purchases will be at a rate of approximately 166,000 shares per month. Such
purchases will be made in private or open market transactions and in compliance
with SEC regulations. The share repurchase program will be funded primarily from
cash flow and other available sources.
DST's share repurchase program was designed to provide shares for use under
various DST option and benefit plans. The Board's expansion of the program is
the result of expected additional share requirements for such plans.
DST provides sophisticated information processing and computer software services
and products to mutual funds and other financial services organizations, output
solutions primarily to the financial services, telecommunications and video
services industries, and customer management software and services primarily to
the video services and utilities industries.
The above release includes forward-looking statements. Actual future results
could differ materially from those anticipated by such forward-looking
statements. The differences could be caused by a number of factors, including
but not limited to, those factors identified in a Current Report on Form 8-K/A-3
dated March 25, 1999, filed by the company with the Securities and Exchange
Commission (Commission File No. 1-14036). DST will not update any
forward-looking statements in this press release to reflect future events.
DST Systems, Inc.
333 West 11th St.
Kansas City, MO
64105-1594
NYSE Symbol: DST
CHX Symbol: DST
Contact:
Thomas A. McDonnell (816) 435-8684
President and Chief Executive Officer
Kenneth V. Hager (816) 435-8603
Vice President and Chief Financial Officer
