Hamilton Beach Brands Holding Company Declares Quarterly Dividend and Announces Stock Repurchase Program
Hamilton Beach Brands Holding Company Declares Quarterly Dividend and Announces Stock Repurchase Program |
[15-May-2018] |
GLEN ALLEN, Va., May 15, 2018 /PRNewswire/ -- Hamilton Beach Brands Holding Company (NYSE: HBB) today announced that the Board of Directors declared a regular cash dividend of 8.5 cents per share. The dividend is payable on both the Class A and Class B Common Stock, and will be paid June 15, 2018 to stockholders of record at the close of business on June 1, 2018. Hamilton Beach Brands Holding Company's Board of Directors also approved a stock repurchase program providing for the purchase of up to $25 million of the Company's outstanding Class A Common Stock through December 31, 2019. The timing and amount of any repurchases under the new repurchase program will be determined at the discretion of the Company's management based on a number of factors, including the availability of capital, other capital allocation alternatives and market conditions for the Company's Class A common stock. The share repurchase program does not require the Company to acquire any specific number of shares. It may be modified, suspended, extended or terminated by the Company at any time without prior notice and may be executed through open market purchases, privately negotiated transactions or otherwise. All or part of the repurchases may be implemented under a Rule 10b5-1 trading plan, which would allow repurchases under pre-set terms at times when the Company might otherwise be prevented from doing so. Forward-looking Statements Disclaimer About Hamilton Beach Brands Holding Company *****
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Company Codes: NYSE:HBB |
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