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 Exchange Act of 1934
Date
of Report
(Date
of earliest event reported)
May
13, 2008
______________
DEVRY
INC.
(Exact
name of registrant as specified in its charter)
______________
|
Delaware |
1-13988 |
36-3150143 |
|
(State of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
|
One
Tower Lane, Suite 1000 |
60181 |
|
(Address of principal executive offices) |
(Zip Code) |
(630)
571-7700
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
______________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item
8.01 Other Events
On May 13, 2008, DeVry Inc. issued a press release announcing that its
Board of Directors had declared a semi-annual dividend on the company’s
common stock of $0.06 per share, payable on July 10, 2008, to common
stockholders of record as of June 19, 2008. The policy of the Board of
Directors is that any payment of dividends will be at the discretion of
the Board of Directors and will be dependent on the earnings and
financial requirements of the Company and other factors as the Board of
Directors deems relevant.
In addition, the Company announced its Board of Directors authorized a
new share repurchase program, which allows the company to buy back up to
$50 million of its common stock through December 31, 2010. The timing
and amount of any repurchase will be determined by management based on
its evaluation of market conditions and other factors. These repurchases
may be made through the open market, including block purchases, or in
privately negotiated transactions, or otherwise. The buyback will be
funded through available cash balances and/or borrowings, and may be
suspended or discontinued at any time.
The full text of this press release is included in Exhibit 99.1 in this
Form 8-K.
Forward Looking Statements
This Form 8-K and the related press release contain forward-looking
statements within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than those that are
purely historical are forward-looking statements. Words such as
“expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” and
similar expressions also identify forward-looking statements.
Because these forward-looking statements involve risks and
uncertainties, there are important factors that could cause the
Company’s actual results to differ materially from those projected or
implied by these forward-looking statements. Additional information
regarding factors that could cause results to differ can be found in the
Company’s Annual Report on Form 10-K for the fiscal year ended June 30,
2007.
These forward-looking statements are based on information as of May 13,
2008, and the Company assumes no obligation to publicly update or revise
its forward-looking statements even if experience or future changes make
it clear that any projected results expressed or implied therein will
not be realized.
Item
9.01 Financial Statements and Exhibits
99.1 Press Release dated May 13, 2008
SIGNATURES
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.
|
DEVRY INC. |
|||
|
(Registrant) |
|||
|
Date: |
May 13, 2008 |
By: |
/s/ Richard M. Gunst |
|
Richard M. Gunst |
|||
|
Senior
Vice President, Chief Financial Officer |
|||
EXHIBIT INDEX
|
Exhibit Number |
Description |
|
| 99.1 |
Press Release dated May 13, 2008 |