H.B. Fuller (FUL) Raises Quarterly Dividend 7.1% to $0.15; Approves $200M Buyback
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H.B. Fuller (NYSE: FUL) declared a quarterly dividend of $0.15 per share, or $0.6 annualized. This is a 7.1% increase from the prior dividend of $0.14.
The dividend will be payable on May 4, 2017, to stockholders of record on April 20, 2017, with an ex-dividend date of April 18, 2017.
The annual yield on the dividend is 1.2 percent.
The Board of Directors also authorized a share repurchase program of up to $200 million of the Company’s outstanding common shares for a period of up to five years. Under the share repurchase program, the Company, at management’s discretion, may repurchase shares for cash on the open market from time to time, in privately negotiated transactions or block transactions, or through an accelerated repurchase agreement, to buy back shares that are issued under the Company’s stock based incentive compensation plans as well as for potential strategic opportunities. The primary source of funding for the program is expected to be excess cash held in the United States. The program does not require the Company to repurchase any specific number of shares or to complete the program on any specific timeline. The program may be modified, suspended or terminated at any time without prior notice. This share repurchase authorization replaces the Company’s previous authorization that was approved in September of 2010.
For a dividend history and other dividend-related data on H.B. Fuller (FUL) click here.
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