Stratus Properties Plans Special Cash Dividend & Stock Buyback

by Shivani Kumaresan, Benzinga Staff Writer

September 2, 2022 9:47 AM | 1 min read | Make a Comment

Stratus Properties Inc STRS said its Board of Directors has decided to return $50 million to shareholders through a special cash dividend and share buyback.
The Board declared a special cash dividend of $4.67 per share on Stratus' common stock, payable on September 29, 2022, to shareholders of record as of September 19, 2022.
The cash dividend will total about $40 million. The rest $10 million is the share buyback program.
Stratus held $110.5 million in cash and equivalents as of June 30, 2022.
"We are proud to be able to share the gains from our successful development program and recent project sales directly with our shareholders,” said Chairman and CEO William H. Armstrong III.
Price Action: STRS shares are trading higher by 6.56% at $37.50 on the last check Friday.