Hasbro Announces Additional $500 Million Share Repurchase Authorization & Quarterly Cash Dividend on Common Shares
PAWTUCKET, R.I.--(BUSINESS WIRE)--
Inc. (NASDAQ: HAS) announced that its Board of Directors has
authorized the Company to repurchase an additional $500 million of its
common stock. As of Wednesday, May 18, 2011, $21.4 million remained
available in the Company's prior share repurchase authorization.
Also, the Company announced that its Board of Directors has declared a
quarterly cash dividend of $0.30 per common share. The dividend will be
payable on August 15, 2011 to shareholders of record at the close of
business on August 1, 2011.
"The additional $500 million share repurchase authorization, coupled
with our recently announced 20% increase in our quarterly dividend,
underscores the steadfast commitment of Hasbro's Board of Directors and
management to return cash to our shareholders, while also investing in
the long-term growth of our business," said Deborah Thomas, Chief
Since the inception of its buyback program in June 2005, the Company has
repurchased 79.4 million shares at a total cost of $2.3 billion and an
average price of $29.01 per share.
Repurchases of the Company's common stock may be made from time to time,
subject to market conditions. These shares may be purchased in the open
market or through privately negotiated transactions. Hasbro has no
obligation to repurchase shares under the authorization, and the timing,
actual number and value of shares which are repurchased will depend on a
number of factors, including the price of the Company's common stock.
The Company may suspend or discontinue the repurchase program at any
Inc. (NASDAQ: HAS) is a branded play company providing children and
families around the world with a wide-range of immersive entertainment
offerings based on the Company's world class brand portfolio. From toys
and games, to television programming, motion pictures, video games and a
comprehensive licensing program, Hasbro strives to delight its customers
through the strategic leveraging of well-known and beloved brands such
as TRANSFORMERS, LITTLEST PET SHOP, NERF, PLAYSKOOL, MY LITTLE PONY,
G.I. JOE, MAGIC: THE GATHERING and MONOPOLY. The HUB, Hasbro's
multi-platform joint venture with Discovery Communications (NASDAQ:
DISCA, DISCB, DISCK) launched on October 10, 2010. The online home of
The HUB is www.hubworld.com.
The HUB logo and name are trademarks of Hub Television Networks, LLC. ©
2011 Hasbro, Inc. All Rights Reserved.
Debbie Hancock, 401-727-5401
Wayne S. Charness, 401-727-5983
Source: Hasbro, Inc.
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