By Colin Kellaher
Woodward’s board has raised the quarterly dividend by nearly 14%, to 25 cents from 22 cents, and approved a new $600 million share-repurchase program.
The new payout, equal to $1.00 a year, represents an annual yield of about 0.74% based on Wednesday’s closing price of $135.56, up from 0.65%.
Woodward on Thursday said the increased dividend is payable March 5 to shareholders of record Feb. 20.
Woodward, which sports a market capitalization of $8.25 billion, said the new three-year stock buyback replaces a prior two-year, $800 million program under which the Fort Collins, Colo., maker of energy conversion and control solutions repurchased roughly $572 million in stock.
Write to Colin Kellaher at [email protected]
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