Richardson Electronics (RELL) Reports In-Line Q3 EPS of 1c; Announces $25M Buyback; Raises Qtr. Dividend to 5c/Share, Yielding 1.49%

April 6, 2011 4:54 PM EDT
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Price: $7.40 -1.07%

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Total other expense: 266K

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Richardson Electronics Ltd. (NASDAQ: RELL) reported Q3 EPS from continuing operations of $0.01, in-line with the analyst estimate of $0.01. Revenue for the quarter came in at $39.7 million versus the consensus estimate of $39.67 million.

Announces a $25 million buyback program.

The company boosted its quarterly dividend from 2c to 5c per Class A common share. The Class B dividend moves to 4.5c per share. The dividend is payable on May 20 to shareholders of record on May 6, making the ex-dividend date May 4.

The dividend yield moves from 0.60% to 1.49%.

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