Callaway Golf (ely) Declares $0.01 Quarterly Dividend; Approves $50M Buyback

August 7, 2014 6:41 AM EDT

Callaway Golf (NYSE: ely) declared a quarterly dividend of $0.01 per share, or $0.04 annualized.

The dividend will be payable on September 12, 2014, to stockholders of record on August 22, 2014, with an ex-dividend date of August 20, 2014.

The annual yield on the dividend is 0.5 percent.

The company also announced that the Board of Directors has authorized the Company to repurchase up to $50 million of the Company's common stock in open market or in private transactions. The Company will assess market conditions, buying opportunities and other factors from time to time and will make strategic repurchases as appropriate. The repurchases will be made consistent with the terms of the Company's credit facility which defines the amount of stock that can be repurchased. The repurchase program does not require the Company to acquire a specific number of shares and it will remain in effect until completed or until terminated by the Board of Directors.

For a dividend history and other dividend-related data on Callaway Golf (ely) click here.



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