Share Repurchase Authorization & Quarterly Dividend Announcement
ST. LOUIS--(BUSINESS WIRE)-- The Board of Directors of Belden Inc. (NYSE: BDC) today approved a new share repurchase authorization and declared quarterly dividends to holders of its common stock and 6.75% series B mandatory convertible preferred stock. Specifics regarding the share repurchase authorization and dividends are as follows:
- A new share repurchase authorization that enables the Company to purchase up to
$200 millionof its common stock through open market purchases, negotiated transactions, or other means, in accordance with applicable securities laws and other restrictions. This share repurchase authorization does not have an expiration date.
- A quarterly dividend to holders of common stock of
$0.05per share payable on July 6, 2017to shareholders of record as of June 15, 2017.
- A quarterly to dividend to holders of the 6.75% series B mandatory convertible preferred stock of
$168.75per share, payable on July 17, 2017to shareholders of record as of July 1, 2017