Briggs & Stratton Declares Dividend And Approves $50 Million Share Repurchase Authorization
MILWAUKEE, April 25, 2018 /PRNewswire/ — Briggs & Stratton Corporation (NYSE:BGG):
At its regular quarterly meeting held today, the Board of Directors of Briggs & Stratton Corporation declared a quarterly dividend of fourteen cents ($0.14) per share on the common stock of the Corporation. The dividend is payable June 29, 2018 to shareholders of record at the close of business June 15, 2018.
Also, at its regular quarterly meeting held today, the Board of Directors of Briggs & Stratton Corporation authorized $50 million in funds for use in the Company’s stock repurchase program with an expiration of June 30, 2020. Briggs & Stratton will repurchase shares of common stock, using available cash, on the open market or in private transactions from time to time, depending on market conditions.
Todd J. Teske, Briggs & Stratton Chairman, President and Chief Executive Officer, said “The Board’s actions today reflect continued confidence in our strategy. We will continue our disciplined and balanced approach to capital allocation by opportunistically repurchasing common shares and making strategic investments in the business.”
BRIGGS & STRATTON CORPORATION
Mark A. Schwertfeger
Senior Vice President and Chief Financial Officer
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SOURCE Briggs & Stratton Corporation