Sirius XM (SIRI) Declares $0.01331 Quarterly Dividend; Approves $2 Billion Buyback

July 14, 2020 4:16 PM EDT

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Sirius XM (NASDAQ: SIRI) declared a quarterly dividend of $0.01331 per share, or $0.05324 annualized.

The dividend will be payable on August 31, 2020, to stockholders of record on August 7, 2020, with an ex-dividend date of August 6, 2020.

The annual yield on the dividend is 0.9 percent.

In addition, SiriusXM today announced that its Board of Directors has approved an additional $2 billion of common stock repurchases, taking the Company's total authorization to $16 billion since the inception of the program in early 2013. Shares of common stock may be purchased from time to time on the open market and in privately negotiated transactions, including in accelerated stock repurchase transactions and transactions with Liberty Media and its affiliates. The Company will fund the repurchases through cash on hand, future cash flow from operations, and future borrowings.

The announcement of the extension of the repurchase program reflects the Board's desire to continue to return value to stockholders and its confidence in the long-term growth prospects of the Company's business. SiriusXM retains sufficient capital capacity to continue making long-term investments in its programming, research and development initiatives and overall operations, as well as to pursue strategic opportunities that may arise.

Repurchases will be made in compliance with all SEC rules and other legal requirements and may be made in part under a Rule 10b5-1 plan, which permits stock repurchases when the Company might otherwise be precluded from doing so.

For a dividend history and other dividend-related data on Sirius XM (SIRI) click here.



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