LPS Authorizes Share Repurchase Program of $100M and Regular Quarterly Dividend
Lender Processing Services (NYSE: LPS), a leading provider of integrated technology and services to the mortgage and real estate industries, today announced the company's board of directors authorized the repurchase of up to $100 million of LPS outstanding common stock. The authorization ends on June 30, 2014, and replaces the company's prior repurchase authorization which expired on Dec. 31, 2012.
The board also authorized a regular quarterly dividend of $0.10 per common share. The dividend is payable on March 21, 2013, to shareholders of record as of the close of business on March 7, 2013.
"These actions reflect our confidence in the future of LPS' business and our commitment to delivering value and returning cash to our shareholders over the long term," said Hugh Harris, LPS president and chief executive officer.
As of Dec. 31, 2012, LPS had 84,912,767 common shares outstanding.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.