Pegasystems (PEGA) Declares $0.03 Quarterly Dividend, 0.1% Yield; Board Announces Share Buyback Expansion

Pegasystems (NASDAQ: PEGA) declared a quarterly dividend of $0.03 per share, or $0.12 annualized.

The dividend will be payable on July 15, 2020, to stockholders of record on July 1, 2020, with an ex-dividend date of June 30, 2020.

The annual yield on the dividend is 0.1 percent.

Share Buyback Expansion

Today the Board of Directors has authorized an expansion of the Company's current share repurchase program (the "Current Repurchase Program"). Under this expansion, the expiration date of the Company's current stock repurchase program will be extended from June 30, 2020 to June 30, 2021, and the amount of stock the Company is authorized to repurchase has been increased from approximately $39.5 million, the amount remaining in the current program, to $60 million.

[The corporate logo for Pega (PRNewsfoto/Pegasystems Inc.)]

At the Company's discretion, the purchases will be made from time to time on the open market or in privately negotiated transactions. Shares may be repurchased in such amounts as market conditions warrant, subject to regulatory and other considerations.

The Company has established a pre-arranged stock repurchase plan, intended to comply with the requirements of Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, and of Rule 10b-18 of the Exchange Act, and may establish, modify, or terminate this and other such plans (collectively, the "10b5-1 Plan"). Shares that are repurchased under the Current Repurchase Program will be repurchased under the 10b5-1 Plan.

Any actual repurchases under the Current Repurchase Program will be disclosed in the Company's annual reports on Form 10-K and quarterly reports on Form 10-Q filed with the Securities and Exchange Commission for the annual and applicable quarterly periods ending between June 30, 2020 and December 31, 2021.

For a dividend history and other dividend-related data on Pegasystems (PEGA) click here.

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