Callaway Golf Company Declares Dividend And Announces New $50 Million Stock Repurchase Program

 Callaway Golf Company Declares Dividend And Announces New $50 Million Stock
                              Repurchase Program

PR Newswire

CARLSBAD, Calif., Aug. 6, 2014

CARLSBAD, Calif., Aug. 6, 2014 /PRNewswire/ --Callaway Golf Company
(NYSE:ELY) announced today that the Board of Directors has authorized the
Company to repurchase up to $50 million of the Company's common stock in open
market or in private transactions. The Company will assess market conditions,
buying opportunities and other factors from time to time and will make
strategic repurchases as appropriate. The repurchases will be made consistent
with the terms of the Company's credit facility which defines the amount of
stock that can be repurchased. The repurchase program does not require the
Company to acquire a specific number of shares and it will remain in effect
until completed or until terminated by the Board of Directors.

The Company also announced today that the Board of Directors has declared a
regular quarterly cash dividend of $0.01 per share on its Common Stock. The
dividend is payable on September 12, 2014 to shareholders of record at the
close of business on August 22, 2014.

About Callaway Golf
Through an unwavering commitment to innovation, Callaway Golf Company
(NYSE:ELY) creates products designed to make every golfer a better golfer.
Callaway Golf Company manufactures and sells golf clubs and golf balls, and
sells golf accessories, under the Callaway Golf® and Odyssey® brands
worldwide. For more information please visit

Forward-Looking Statements

This press release contains forward-looking statements as defined under the
Private Securities Litigation Reform Act of 1995. These statements are based
on current information, expectations or beliefs and involve known and unknown
risks, uncertainties, assumptions and other factors, many of which are out of
the Company's control and difficult to forecast, including changes in capital
market conditions or economic conditions that may cause actual results to
differ materially from those described in the forward-looking statements,
including without limitation, the amount of shares that may be repurchased.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. The Company undertakes no
obligation to publish revised forward-looking statements to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.

Contact: Brad Holiday
Patrick Burke
(760) 931-1771

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SOURCE Callaway Golf Company

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