TransDigm (TDG) Declares $22.00 Special Dividend; 14.3% Yield

July 3, 2013 1:07 PM EDT
TransDigm (NYSE: TDG) declared a special dividend of $22.00 per share.

The dividend will be payable on July 25, 2013, to stockholders of record on July 15, 2013.

The annual yield on the dividend is 14.3 percent.

W. Nicholas Howley, TransDigm Group's Chairman and Chief Executive Officer, stated, "This special dividend is part of our ongoing efforts to allocate our capital in order to create value for our shareholders. We believe the market conditions and other factors gave us a unique opportunity to accelerate returns to our shareholders by this special dividend. The combination of a cash balance anticipated to be over $450 million at September 30, 2013; an available revolver of approximately $300 million; additional capacity under our amended credit agreement; and expected strong quarterly cash generation in fiscal 2013 and fiscal 2014, give us adequate financial capacity to meet our likely range of operating and acquisition needs."

For a dividend history and other dividend-related data on TransDigm (TDG) click here.

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