Brink's Co. said Monday that it has increased its quarterly dividend 50% to 15 cents a share from 10 cents a share. The new dividend will be payable June 1 to shareholders of record on May 18. The security and cash-in-transit service provider said it authorized a $200 million stock repurchase program that expires on Dec. 31, 2019. Based on Friday's stock closing price of $61.20, the new dividend would imply an annual dividend yield of 0.98%, compared with the estimated S&P 500 dividend yield of 2.01%, according to FactSet. The buyback would allow the repurchase of of about 3.27 million shares, or about 6.5% of the shares outstanding. "The dividend increase and the share repurchase program reflect our commitment to increasing shareholder value and our confidence in the recently disclosed strategic plan, which targets a 70 percent increase in non-GAAP earnings and a 50 percent increase in cash flow by the end of 2019," said chief Executive Doug Pertz. The stock, which was still inactive in premarket trade, has soared 48% year to date, while the S&P 500 has gained 7.2%.
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