Rexnord (RXN) Initiates $0.08 Quarterly Dividend; Expands Buyback Plan
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Rexnord Announces Enhanced Capital Allocation Strategy; Initiation of Common Stock Dividend; Expanded Share Repurchase Authorization
January 27, 2020 7:00 AM ESTStrong cash generation and reduced financial leverage to enable increased returns to shareholders
MILWAUKEE--(BUSINESS WIRE)-- Rexnord Corporation (NYSE: RXN) today announced that its Board of Directors has approved a comprehensive capital allocation strategy that leverages the companys consistent and high-level of free cash flow to enhance shareholder value creation.
The Board of Directors approved an initial $0.08 per-share quarterly dividend to be paid on March 6, 2020 to shareholders of record as of February 21, 2020, which represents the first common stock dividend Rexnord has paid since its 2012 initial public offering.
In addition,... More
