EnerSys Initiates First Quarterly Dividend

Before you go, we thought you'd like these...
Before you go close icon

Stored energy solution specialist EnerSys  announced yesterday it would be initiating its first quarterly dividend payment of $0.125 per share, payable on June 28 to the holders of record at the close of business on June 14.  

At the same time, the company said it would start a new $65 million stock buyback program that is in addition to its standing share repurchase plan that was implemented to minimize share dilution caused by its equity incentive plans. The buyback plan will expire on March 31, 2014, but the board cautioned the program could be modified, extended, or terminated at any time.

EnerSys CEO John D. Craig said: "Our level of profitability and cash generation affords the Company the ability to pay a quarterly dividend and repurchase stock while maintaining our acquisition strategy, increasing capital expenditure programs and continuing our growth in the developing markets."


The regular dividend payment equates to a $0.50-per-share annual dividend, yielding 1% based on the closing price of EnerSys's stock on May 28.

link

The article EnerSys Initiates First Quarterly Dividend originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners