CDK Global (CDK) Declares $0.12 Quarterly Dividend; 1.1% Yield, Approves 10M Share Buyback

CDK Global (NASDAQ: CDK) declared a quarterly dividend of $0.12 per share, or $0.48 annualized.

The dividend will be payable on March 27, 2015, to stockholders of record on March 2, 2015, with an ex-dividend date of February 26, 2015.

The annual yield on the dividend is 1.1 percent.

The Board of Directors of CDK Global, Inc. has authorized the purchase of ten million shares of its common stock

"We are pleased to announce a ten million share repurchase authorization. We continue to evaluate how to best deploy our free cash flow to generate long term shareholder value and this is a prudent next step in our plan. We have excess cash on our balance sheet and intend to utilize this authorization to offset dilution from employee equity compensation plans and return capital to our shareholders," said Steve Anenen, President and Chief Executive Officer, CDK Global. "We are confident that we will generate increasing levels of free cash flow which will enable us to invest while also returning capital through our announced dividend and share buyback authorization," Anenen concluded.

For a dividend history and other dividend-related data on CDK Global (CDK) click here.

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