PolyOne (POL) Declares $0.12 Quarterly Dividend; Raises Buyback Plan to 10M Shares

PolyOne (NYSE: POL) declared a quarterly dividend of $0.12 per share, or $0.48 annualized.

The dividend will be payable on July 8, 2016, to stockholders of record on June 17, 2016, with an ex-dividend date of June 15, 2016.

The annual yield on the dividend is 1.3 percent.

In addition, the Board increased the company's share repurchase authorization amount by 7.3 million shares to 10 million shares in total.

"We remain committed to enhancing our return to shareholders with a combination of cash dividends and share repurchases," said Robert M. Patterson, chairman, president and CEO, PolyOne Corporation. "Since we initiated our dividend in 2011, we have increased it at a compound annual growth rate of 25%, and over that same period of time we have also repurchased $650 million in shares."

It is anticipated that the company will buy back shares through open market purchases or privately negotiated transactions from time to time. The number of shares to be purchased and the timing of the purchases will depend upon the prevailing market prices and other considerations. The authorization has no time limit and may be suspended or discontinued at any time.

For a dividend history and other dividend-related data on PolyOne (POL) click here.

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