TL;DR
Valvoline increases its quarterly dividend by 11 percent to $0.125 per share and authorizes a $100 million share repurchase. The company's board of directors approved the dividend increase and share repurchase authorization as part of its capital allocation framework.
The board of directors also authorized the company to repurchase up to $100 million of its common stock. The timing and amount of any purchase of shares of common stock will be based on the level of Valvoline's liquidity, general business and market conditions and other factors, including alternative investment opportunities. The term of the new share repurchase authorization extends through Sept.
30, 2021. The dividend and share repurchase authorization is part of a broader capital allocation framework to deliver value to shareholders by first driving growth in the business, organically and through acquisitions, and then returning excess cash to shareholders through dividends and share repurchases.
™ Trademark, Valvoline or its subsidiaries, registered in various countries SM Service mark, Valvoline or its subsidiaries, registered in various countries
In this story
This story was originally published in Franchising.com on November 13, 2020. Burnaze summarizes and links to the original reporting.
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