Energizer Holdings (ENR) Will Initiate 40c Qtr. Dividend; Yields 2.3%; Approves 10M Common Buyback
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Energizer Holdings, Inc. (NYSE: ENR) announced plans to initiate a dividend program commencing later this year. Subject to declaration by the Board, the Company plans to initiate a quarterly dividend of $0.40 per share in the fourth quarter of its fiscal 2012, which ends September 30, 2012.
At today's trading range, that's a yield of 2.3 percent.
Energizer anticipates paying a cash dividend each quarter, with expected dividend payment dates in March, June, September and December of each year. The dividend announced today implies an annual cash dividend rate of $1.60 per common share. Future declarations of dividends are subject to Board approval and may be adjusted in the discretion of the Board, including as business needs or market conditions change.
In addition, the Company announced that its Board of Directors has approved a new authorization for the Company to acquire up to 10 million shares of its $.01 par value common stock. This authorization replaces a similar authorization to acquire up to 10 million shares, which was approved by the Board on July 24, 2006, and under which approximately 8 million shares of common stock have been repurchased.
At today's trading range, that's a yield of 2.3 percent.
Energizer anticipates paying a cash dividend each quarter, with expected dividend payment dates in March, June, September and December of each year. The dividend announced today implies an annual cash dividend rate of $1.60 per common share. Future declarations of dividends are subject to Board approval and may be adjusted in the discretion of the Board, including as business needs or market conditions change.
In addition, the Company announced that its Board of Directors has approved a new authorization for the Company to acquire up to 10 million shares of its $.01 par value common stock. This authorization replaces a similar authorization to acquire up to 10 million shares, which was approved by the Board on July 24, 2006, and under which approximately 8 million shares of common stock have been repurchased.
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