The Timken Company
TKR board of directors today declared a quarterly cash dividend of 23
cents per share, an increase of 15 percent over the previous quarterly amount.
This marks the 359th consecutive dividend on the common stock of the company,
payable on Mar. 2, 2012, to shareholders of record as of Feb. 21, 2012.
At the same time, the board approved a new stock buyback authorization for up
to 10 million shares of Timken common stock. This replaces the company's
existing share purchase plan, which had 2 million shares remaining and was set
to expire on Dec. 31, 2012. Under the new plan, the company may purchase its
own common shares in the open market or through privately negotiated
transactions through Dec. 31, 2015.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in