EX-99.2 3 a08-31018_1ex99d2.htm EX-99.2

Exhibit 99.2

 

OfficeMax Incorporated

 

263 Shuman Boulevard Naperville, IL 60563

 

News Release

 

 

 

OfficeMax Media Contact

 

OfficeMax Investor Contact

Bill Bonner

 

Mike Steele

630 864 6066

 

630 864 6826

 

For Immediate Release: December 18, 2008

 

OFFICEMAX ANNOUNCES COMMON STOCK DIVIDEND SUSPENSION

 

Naperville, Ill. — OfficeMax Incorporated (NYSE:OMX), a leader in office products and services, announced today that the Board of Directors voted to suspend the payment of quarterly cash dividends on the Company’s common stock, effective immediately, due to the impact of continued weak economic conditions.

 

“Suspending the common stock dividend will result in annual savings of approximately $45 million and is consistent with the actions we’ve taken during 2008 to reduce costs and enhance liquidity, including recently announced staff eliminations and other cost reduction initiatives,” said Sam Duncan, chairman and chief executive officer of OfficeMax.  “In the current environment, we believe this is the most prudent decision and in the best interest of the company and its stakeholders.”

 

About OfficeMaxÒ Incorporated

 

OfficeMax Incorporated is a leader in both business-to-business and retail office products distribution. The OfficeMax mission is simple: to help our customers do their best work. The company provides office supplies, print and document services through OfficeMax Impress, technology products and solutions, and furniture to large, medium and small businesses and consumers. OfficeMax customers are served by

 



 

more than 30,000 associates through direct sales, catalogs, e-commerce and more than 1,000 stores. For more information, visit: http://www.officemax.com.

 

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