World Fuel Services (INT) Declares $0.06 Quarterly Dividend; Approves $100M Stock Buyback Plan
- Futures up as oil prices top $55
- Oil tops $55 for first time in 16 months as OPEC deal fuels buying
- Consolidated Communications (CNSL) to Acquire FairPoint Communications (FRP) in $1.5B Deal
- Wall St. stock futures fall after Italy referendum
- Burberry rejects multiple takeover offers from Coach: Financial Times
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
World Fuel Services (NYSE: INT) declared a quarterly dividend of $0.06 per share, or $0.24 annualized.
The dividend will be payable on October 12, 2016, to stockholders of record on September 23, 2016, with an ex-dividend date of September 21, 2016.
The annual yield on the dividend is 0.5 percent.
World Fuel Services also announced that its Board of Directors has authorized the purchase of up to $100 million in common stock. This board action replaces the previously announced June 2015 share repurchase authorization.
Share repurchases may be made from time to time in the open market or through privately negotiated transactions. The timing and amount of shares to be repurchased under the program will depend on market conditions, share price, securities law and other legal requirements and factors. The program does not require the purchase of any minimum number of shares, has no expiration date and may be suspended or discontinued at any time without prior notice.
“Our business continues to generate strong cash flows, with $471 million of operating cash flow over the 12-month period ending June 30, 2016,” said Ira M. Birns, executive vice president and chief financial officer. “Today’s announcement demonstrates our confidence in World Fuel’s long-term prospects and continued commitment to enhancing shareholder value, through a combination of dividends and share repurchases, principally to offset the dilutive impact of employee stock awards.”
For a dividend history and other dividend-related data on World Fuel Services (INT) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Wabco Holdings (WBC) Approves $600M Stock Buyback Program
- Allergan (AGN) Updates on ASR Program; ~$8B of Shares Received, Retired in Nov.
- Redwood Trust (RWT) Affirms Qtr. Dividend Rate
Create E-mail Alert Related CategoriesDividends, Management Comments, Stock Buybacks
Related EntitiesDividend, Stock Buyback
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!