Anixter InternationalAXE today announced that its board of
directors declared the payment of a special dividend to shareholders of
$5 per common share, or a total cash outlay of approximately $165
million. The special dividend is payable on January 2, 2014, to
shareholders of record on December 11, 2013.
Commenting on the special dividend payment, President and CEO Robert Eck
said, “Our continued strong cash flow generation of nearly $500 million
over the past three years has resulted in a debt to total capital ratio
of 43 percent at the end of the third quarter, which falls below our
target range of 45–50 percent. This presented us with the opportunity to
return capital to our shareholders while still
See full press release
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