H&R Block (HRB) Tops Q4 Views, Guides; Raises Dividend, Buyback
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H&R Block (NYSE: HRB) reports Q4 earnings of $2.11 per share, above the consensus of $2.03. Revenues came in at $2.62 billion, versus the consensus of $2.5 billion.
Sees FY09 EPS of $1.60-41.70 versus the consensus of $1.58.
H&R Block's Board of Directors has voted to increase the annual cash dividend by three cents per share to 60 cents per share, resulting in a quarterly dividend of 15 cents per share beginning with the dividend payable Oct. 1, 2008.
H & R Block board also voted to authorize $2 billion of share repurchases during the four-year period FY09 – FY12, although the Company expects to be particularly disciplined in FY09 as it rebuilds its balance sheet. Initial purchases are not anticipated prior to the fourth quarter of fiscal 2009.
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