Allegion plc (ALLE) Raises Quarterly Dividend 18.5% to $0.32, 1% Yield; Authorizes Share Buyback Up to $800M

Allegion plc (NYSE: ALLE) declared a quarterly dividend of $0.32 per share, or $1.28 annualized. This is an 18.5% increase from the prior dividend of $0.27.

The dividend will be payable on March 31, 2020, to stockholders of record on March 17, 2020, with an ex-dividend date of March 16, 2020.

The annual yield on the dividend is 1 percent.

Share Buyback

The board also approved a new stock repurchase authorization of up to, and including, $800 million of the company’s ordinary shares. This new stock repurchase program replaces the program established in 2017.

“Both the dividend increase and share repurchase authorization represent our board’s strong belief in Allegion’s long-term cash flow potential – as well as their support of our long-standing strategy to create value for our shareholders through a balanced and flexible approach to organic investments, accretive acquisitions and shareholder distributions,” said David D. Petratis, Allegion chairman, president and CEO. “In addition, we continue to expect an annual rate of dividend increase that’s above the rate of earnings growth.”

For a dividend history and other dividend-related data on Allegion plc (ALLE) click here.

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