Comtech (CMTL) Raises Quarterly Dividend 10% to $0.275; 4% Yield; Adds $250M to Buyback
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Comtech Telecommunications (NASDAQ: CMTL) declared a quarterly dividend of $0.275 per share, or $1.1 annualized. This is a 10% increase from the prior dividend of $0.25.
The dividend will be payable on November 22, 2011, to stockholders of record on October 21, 2011, with an ex-dividend date of October 19, 2011.
The annual yield on the dividend is 4 percent.
Comtech also announced today that its Board of Directors has authorized an increase to the stock repurchase program from $150.0 million to $250.0 million. Repurchases under the $250.0 million repurchase program may be made in open-market or privately negotiated transactions and may be made pursuant to SEC Rule 10b5-1 trading plans.
The dividend will be payable on November 22, 2011, to stockholders of record on October 21, 2011, with an ex-dividend date of October 19, 2011.
The annual yield on the dividend is 4 percent.
Comtech also announced today that its Board of Directors has authorized an increase to the stock repurchase program from $150.0 million to $250.0 million. Repurchases under the $250.0 million repurchase program may be made in open-market or privately negotiated transactions and may be made pursuant to SEC Rule 10b5-1 trading plans.
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