Brunswick announces stock repurchase authorization and declares dividend
LAKE FOREST, Ill. – Brunswick Corporation (NYSE: BC) today announced that its board of directors has authorized the discretionary repurchase of up to $200 million of the company’s outstanding common stock. Share repurchases will be systematically completed in the open market or through privately negotiated transactions over approximately a two-year period.
“The Brunswick organization has successfully executed against our operating and financial plans, and is focused on a well-defined strategy to generate continued growth in revenue and earnings over the next planning period,” explained Dustan E. McCoy, Brunswick chairman and chief executive officer. “The authorization for the repurchase of common stock reflects our progress as well as our confidence in Brunswick’s future prospects. The repurchase also allows us another means to enhance shareholder value over the coming years.”
The board of directors of Brunswick today declared a quarterly dividend on the company’s common stock of $0.125 per share payable Dec. 15, 2014, to shareholders of record on Nov. 25, 2014.
