DeVry (DV) Boosts Qtr. Dividend by 25% to $0.20; Authorizes $50M Buyback
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DeVry Inc. (NYSE: DV) announced today at its annual meeting of shareholders that its board of directors approved a 25 percent dividend increase, raising its dividend from $0.16 to $0.20 per share annually. Payable on a semi-annual basis, the next dividend payment of $0.10 will be made on Jan. 7, 2010, to common stockholders of record as of Dec. 11, 2009.
DeVry also announced that its board of directors authorized a third share repurchase program of $50 million to commence upon completion of the existing $50 million program. The new program expires on Dec. 31, 2011.
"The dividend increase and continuation of the share repurchase program reflect our strong financial position and outlook for the future," said Daniel Hamburger, DeVry’s president and chief executive officer. "We will continue to put our students first and invest in academic quality, which we believe leads to sustainable, long term growth and increased shareholder value.”
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