TransDigm Group (TDG) Declares $22 Special Dividend; 8.1% Yield

TransDigm Group (NYSE: TDG) declared a special dividend of $22 per share.

The dividend will be payable on September 12, 2017, to stockholders of record on September 5, 2017, with an ex-dividend date of September 1, 2017.

The annual yield on the dividend is 8.1 percent.

Press release:

TransDigm Group Incorporated (the "TransDigm Group") (NYSE: TDG) announced today that its wholly-owned subsidiary, TransDigm Inc., received the funding of an additional term loan of $1,819 million maturing in 2024 at a rate of LIBOR plus 3.00% and repaid in full the existing tranche C term loans, pursuant to an amendment to its existing credit agreement.

The amendment also permits (a) the payment of a special dividend, share repurchase, or combination thereof, in an aggregate amount up to $1,262 million over the next 60 days, and (b) certain additional restricted payments, including to declare or pay dividends or repurchase stock, in an aggregate amount not to exceed $1,500 million over the next twelve months. If any portion of the $1,500 million is not used for dividends or share repurchases over the next twelve months, such amount (not to exceed $500 million) may be used to repurchase stock at any time thereafter.

Accordingly, TransDigm Group announced today that its board of directors has authorized and declared a special cash dividend of $22.00 on each outstanding share of common stock and cash dividend equivalent payments under options granted under its stock option plans. The record date for the special dividend is September 5, 2017 and the payment date for the dividend is September 12, 2017.

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

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