Bunge Shares Gain After Hours Following Dividend Increase, Buyback Plan

Agribusiness giant Bunge Ltd. on Tuesday said its board of directors approved a dividend increase to 38 cents a share, from 34 cents a share. The company will pay the new dividend on Sept. 2 to shareholders of record on Aug. 19. The board also authorized a new share buyback program of up to $500 million of Bunge's common shares, the company said. The program replaces a previous $975 million share repurchase program completed in the first quarter. Shares of Bunge rose 0.8% in after-hours trading Tuesday, after ending the regular session down 0.5%.