Briggs & Stratton Corp. (BGG) Raises Quarterly Dividend 4.2% to $0.125; Adds $50M to Buyback

August 13, 2014 1:28 PM EDT

Briggs & Stratton Corp. (NYSE: BGG) declared a quarterly dividend of $0.125 per share, or $0.5 annualized. This is a 4.2% increase from the prior dividend of $0.12.

The dividend will be payable on October 1, 2014, to stockholders of record on September 17, 2014, with an ex-dividend date of September 15, 2014.

The annual yield on the dividend is 2.6 percent.

The Board of Directors also authorized an additional $50 million in funds for use in the Company's stock repurchase program with an expiration of June 30, 2016. BGG will repurchase shares of common stock, using available cash, on the open market or in private transactions from time to time, depending on market conditions.

Todd Teske, Briggs & Stratton Corporation Chairman, President and Chief Executive Officer, said, "The Board's actions today reflect continued confidence in our strategy and the long-term prospects of the business. Our business continues to deliver healthy cash flow and our balance sheet remains strong. The increased dividends and additional share repurchases demonstrate our commitment to delivering returns for our shareholders."

For a dividend history and other dividend-related data on Briggs & Stratton Corp. (BGG) click here.

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