Briggs & Stratton (BGG) Declares $0.14 Quarterly Dividend, 2.8% Yield; Announces $50M Share Buyback Authorization
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Briggs & Stratton (NYSE: BGG) declared a quarterly dividend of $0.14 per share, or $0.56 annualized.
The dividend will be payable on June 29, 2018, to stockholders of record on June 15, 2018, with an ex-dividend date of June 14, 2018.
The annual yield on the dividend is 2.8 percent.
Also, at its regular quarterly meeting held today, the Board of Directors of Briggs & Stratton Corporation authorized $50 million in funds for use in the Company's stock repurchase program with an expiration of June 30, 2020. Briggs & Stratton 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 J. Teske, Briggs & Stratton Chairman, President and Chief Executive Officer, said "The Board's actions today reflect continued confidence in our strategy. We will continue our disciplined and balanced approach to capital allocation by opportunistically repurchasing common shares and making strategic investments in the business."
For a dividend history and other dividend-related data on Briggs & Stratton (BGG) click here.
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