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) March 23, 2000
(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 March 23,
2000 concerning a new DST program to repurchase shares for use under various
option and benefit plans and for general corporate purposes.
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: March 24, 2000
March 23, 2000
DST SYSTEMS, INC, ANNOUNCES NEW SHARE REPURCHASE PROGRAM
DST Systems, Inc. (DST) announced today a new share repurchase program. The DST
Board authorized repurchase of an additional 4,000,000 shares of DST common
stock. This program is in addition to its previously announced 4,175,000 share
repurchase program under which 2,805,000 shares remain to be repurchased.
Of the additional 4,000,000 shares to be purchased, 960,000 shares will be to
provide shares to meet expected additional share requirements under various DST
options, incentive, and benefit plans. These 960,000 shares will be repurchased
at a rate of approximately 40,000 shares per month over the next twenty-four
months.
The 3,040,000 share balance of the additional shares will be purchased from time
to time during a 30-month period ending September 30, 2002. The shares
repurchased will be used for general corporate purposes.
All repurchases will be made in private or open market transactions and in
compliance with SEC regulations. The repurchase program will be funded from cash
flow and other available sources.
To date, 1,370,000 shares have been repurchased under the previously announced
4,175,000 share program which is scheduled to end in August 2001.
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
