TEGNA (TGNA) Raises Quarterly Dividend 19.7% to $0.11375; 2.9% Yield

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Go back to TEGNA (TGNA) Raises Quarterly Dividend 19.7% to $0.11375; 2.9% Yield

TEGNA (TGNA) Announces $300M ASR, Increases Dividend by 20% Following Termination of Merger Agreement with Standard General

May 22, 2023 4:48 PM EDT

(Updated - May 22, 2023 4:59 PM EDT)

TEGNA Inc. (NYSE: TGNA) today announced a $300 million accelerated share repurchase (ASR) program and a 20 percent increase in its quarterly dividend. These initial actions to return excess capital to shareholders follow the termination of TEGNAs merger agreement with an affiliate of Standard General L.P. Under the terms of the merger agreement, TEGNA is entitled to receive a termination fee of $136 million from Standard General.

Beyond these actions, TEGNAs Board of Directors and management team are also actively reviewing the return of additional excess capital that... More