SHELTON, CT. (October 20, 2017) - The Board of Directors of Hubbell Incorporated HUBB today declared a 10% increase in the common stock dividend rate. The new annual payment of $3.08 per share, or $0.77 per quarter, compares to the former rate of $2.80 or $0.70 per quarter. The dividend will be paid on December 15, 2017 to shareholders of record on November 30, 2017.
Additionally, the Board of Directors approved a new share repurchase authorization of up to $400 million. This new program is set to expire in October 2020.
Hubbell Incorporated is an international manufacturer of quality electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. With 2016 revenues of $3.5 billion, Hubbell Incorporated operates manufacturing facilities in the United States and around the world. The corporate headquarters is located in Shelton, CT.
######
Contact: Steve Beers
Hubbell Incorporated
40 Waterview Drive
P.O Box 1000
Shelton, CT 06484
(475) 882-4000
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hubbell Inc. via Globenewswire
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.