EnerSys Initiates First Quarterly Dividend

Stored energy solution specialist EnerSys  (NYSE: ENS  )  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


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2457913, ~/Articles/ArticleHandler.aspx, 4/19/2014 10:57:48 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASD 4,095.52 0.00 0.00%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

4/17/2014 4:03 PM
ENS $66.41 Up +0.63 +0.96%
EnerSys CAPS Rating: *****

Advertisement