Interpublic Group of Cos. (IPG) Raises Quarterly Dividend 25% to $0.075; Boosts Share Buyback by $300M

February 22, 2013 7:08 AM EST
Interpublic Group of Cos. (NYSE: IPG) declared a quarterly dividend of $0.075 per share, or $0.3 annualized. This is a 25% increase from the prior dividend of $0.06.The dividend will be payable on March 25, 2013, to stockholders of record on March 11, 2013, with an ex-dividend date of March 7, 2013. The annual yield on the dividend is 2.4 percent.

Additionally, the company`s Board of Directors authorized a new program to repurchase, from time to time, up to $300 million of IPG common stock. The authorization under the new program is in addition to any amounts remaining for repurchase under the program announced in 2012.

"In 2012, we continued to invest in the long-term growth needs of our company while also implementing our dividend and stock repurchase plans," said Michael I. Roth, Chairman and CEO of Interpublic Group. "By authorizing a 25% increase in the dividend and a new $300 million share repurchase program, our Board is demonstrating our company`s ongoing commitment to returning appropriate levels of capital to shareholders, as well as our confidence in the operating trajectory of our business."

For a dividend history and other dividend-related data on Interpublic Group of Cos. (IPG) click here.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Dividends, Stock Buybacks

Related Entities

Dividend, Stock Buyback