PAWTUCKET, R.I.--(BUSINESS WIRE)--May 17, 2018--
Hasbro,
Inc. (NASDAQ: HAS) today announced that its Board of Directors
has authorized the Company to repurchase an additional $500 million of
its common stock. At the end of the first quarter, $139.2 million
remained available in the current share repurchase authorization.
Additionally, the Company’s Board of Directors has declared a quarterly
cash dividend of $0.63 per common share. The dividend will be payable on
August 15, 2018 to shareholders of record at the close of business on
August 1, 2018.
“Hasbro is committed to strategically investing in our business for
long-term profitable growth and returning excess cash to our
shareholders. The Board’s additional $500 million stock authorization
reaffirms this commitment and demonstrates confidence in the future
value of Hasbro’s strategy,” said Deb Thomas, Hasbro’s Chief Financial
Officer. “Hasbro is executing from a healthy financial position, with an
operating cash flow target of $600-700 million this year and a solid
balance sheet.”
Over the past ten years, the Company has returned $4.4 billion to
shareholders through its dividend and share repurchase programs.
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
time.
About Hasbro
Hasbro (NASDAQ: HAS) is a global play and entertainment company
committed to Creating the World's Best Play Experiences. From toys and
games to television, movies, digital gaming and consumer products,
Hasbro offers a variety of ways for audiences to experience its iconic
brands, including NERF, MY LITTLE PONY, TRANSFORMERS, PLAY-DOH,
MONOPOLY, BABY ALIVE and MAGIC: THE GATHERING, as well as premier
partner brands. Through its entertainment labels, Allspark Pictures and
Allspark Animation, the Company is building its brands globally through
great storytelling and content on all screens. Hasbro is committed to
making the world a better place for children and their families through
corporate social responsibility and philanthropy. Hasbro ranked No. 5 on
the 2018 100 Best Corporate Citizens list by CR Magazine and has been
named one of the World’s Most Ethical Companies® by Ethisphere Institute
for the past seven years. Learn more at www.hasbro.com,
and follow us on Twitter (@Hasbro & @HasbroNews) and Instagram (@Hasbro).
HAS-D
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Source: Hasbro, Inc.
Hasbro, Inc.
Investor Contact:
Debbie Hancock, 401-727-5401
debbie.hancock@hasbro.com
or
Press
Contact:
Julie Duffy, 401-727-5931
julie.duffy@hasbro.com