Lindaay Corp. (LNN) Declares $0.28 Quarterly Dividend; Adds $100M to Common Buyback Plan

Lindaay Corp. (NYSE: LNN) declared a quarterly dividend of $0.28 per share, or $1.12 annualized.

The dividend will be payable on August 31, 2015, to stockholders of record on August 17, 2015, with an ex-dividend date of August 13, 2015.

The annual yield on the dividend is 1.3 percent.

Lindsay also announced that its Board of Directors has approved a $100 million increase in its outstanding share repurchase authorization. While this authorization supports the company’s plan to opportunistically invest in share repurchases, there is no guarantee that the authorization will be executed, in full or in part.

Rick Parod, president and chief executive officer, commented, “Our past share repurchase activities have created significant value for shareholders and this authorization indicates our plans to continue to return excess cash to shareholders, as appropriate.”

For a dividend history and other dividend-related data on Lindaay Corp. (LNN) click here.

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