Brink's (BCO) Raises Quarterly Dividend 50% to $0.15; 1% Yield; Authorizes $200M Share Repurchase

Brink's (NYSE: BCO) declared a quarterly dividend of $0.15 per share, or $0.6 annualized. This is a 50% increase from the prior dividend of $0.10.

The dividend will be payable on June 1, 2017, to stockholders of record on May 18, 2017, with an ex-dividend date of May 16, 2017.

The annual yield on the dividend is 1 percent.

The company also announced that the board of directors authorized a share repurchase program of up to $200 million of common stock. The authorization expires December 31, 2019.

Doug Pertz, president and chief executive officer, said: “The dividend increase and the share repurchase program reflect our commitment to increasing shareholder value and our confidence in the recently disclosed strategic plan, which targets a 70 percent increase in non-GAAP earnings and a 50 percent increase in cash flow by the end of 2019. We have the financial flexibility to support our capital allocation priorities, which include funding internal cost reduction and growth initiatives, while also completing accretive acquisitions to provide incremental growth above the plan targets. We have ample free cash flow to return additional cash to our shareholders through dividend increases and share repurchases.”

For a dividend history and other dividend-related data on Brink's (BCO) click here.

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