Kar Auction Services (KAR) Declares $0.27 Quarterly Dividend; Plans $200M Common Stock Accelerated Buyback
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KAR Auction Services Announces $200 Million Accelerated Share Repurchase
August 3, 2015 4:16 PM EDTCARMEL, IN -- (Marketwired) -- 08/03/15 -- KAR Auction Services, Inc. (NYSE: KAR) (the "Company") announced today that it plans to enter into an accelerated share repurchase agreement under which the Company expects to repurchase up to $200 million of the Company's common stock on an accelerated basis. The accelerated share repurchase is part of the Company's previously authorized program to repurchase up to $300 million of the Company's common stock.
"We are delighted to announce that we plan to enter into an accelerated share repurchase plan, further demonstrating our commitment to creating value for KAR's... More
KAR Auction Services, Inc. Reports Double Digit Growth in Revenues, Adjusted EBITDA and Adjusted Net Income for Second Quarter 2015
August 3, 2015 4:15 PM EDTCARMEL, IN -- (Marketwired) -- 08/03/15 -- KAR Auction Services, Inc. (NYSE: KAR), today reported its second quarter financial results for the three months ended June 30, 2015. For the second quarter of 2015, the company reported revenue of $658.3 million as compared with revenue of $585.6 million for the second quarter of 2014, an increase of 12%. Adjusted EBITDA for the quarter ended June 30, 2015 increased 10% to $170.0 million, as compared with Adjusted EBITDA of $154.1 million for the quarter ended June 30, 2014. Net income for the second quarter of 2015 increased 17% to $59.5 million, or $0.41 per diluted share, as compared with net income of $50.8 million,... More
