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NACCO Industries (NC) Raises Quarterly Dividend 1.9% to $0.2675; Approves $50M Stock Buyback

May 10, 2016 5:06 PM EDT

NACCO Industries (NYSE: NC) declared a quarterly dividend of $0.2675 per share, or $1.07 annualized. This is a 1.9% increase from the prior dividend of $0.2625.

The dividend will be payable on June 15, 2016, to stockholders of record on June 1, 2016, with an ex-dividend date of May 27, 2016.

The annual yield on the dividend is 1.9 percent.

NACCO's Board of Directors also approved a stock purchase program providing for the purchase of up to $50 million of the Company's outstanding Class A Common Stock through December 31, 2017. The Company's previous $60 million stock repurchase program, announced in December 2013, was completed in October 2015.

The timing and amount of any repurchases under the new repurchase program will be determined at the discretion of the Company's management based on a number of factors, including the availability of capital, other capital allocation alternatives and market conditions for the Company's Class A common stock. The share repurchase program does not require the Company to acquire any specific number of shares. It may be modified, suspended, extended or terminated by the Company at any time without prior notice and may be executed through open market purchases, privately negotiated transactions or otherwise. All or part of the repurchases may be implemented under a Rule 10b5-1 trading plan, which would allow repurchases under pre-set terms at times when the Company might otherwise be prevented from doing so.

For a dividend history and other dividend-related data on NACCO Industries (NC) click here.



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