“We continue to generate significant Recurring Free Cash Flow to support our disciplined capital deployment strategy, which we adjust based on current circumstances and what we think is best for shareholder value creation. As a result, we are raising our original guidance for full-year 2012 Recurring Free Cash Flow from in excess of $300 million to now equal or surpass the $340 million we generated in fiscal 2011,” said John Fowler, Executive Vice President & Chief Financial Officer. “We are also proud of the progress we continue to make in managing our debt to maintain a strong balance sheet, which provides us with the flexibility to adjust to changing economic conditions. Despite being in our peak season for working capital, we repaid $16 million in debt during the quarter and $148 million year-to-date. Our quarter-end leverage ratio of 2.25x remains within our targeted range of 2.0x to 2.5x.”
Quad/Graphics' quarterly dividend of $0.25 per share will be payable on December 14, 2012, to shareholders of record as of December 3, 2012.