Interpublic beats by $0.04, beats on revs; approves 17% increase in quarterly dividend and an additional $300 million toward share repurchase program (22.22)
- Reports Q4 (Dec) earnings of $0.81 per share, $0.04 better than the Capital IQ Consensus of $0.77; revenues rose 3.4% year/year to $2.34 bln vs the $2.3 bln Capital IQ Consensus.
- Board approves 17% increase in quarterly dividend and an additional $300 million toward share repurchase program
- Share Repurchase Program and Common Stock Dividend During the fourth quarter of 2017, the company repurchased 4.2 million shares of its common stock at an aggregate cost of $84.1 million and an average price of $19.85 per share. For the full year 2017, the company repurchased 13.7 million shares of its common stock at an aggregate cost of $300.1 million and an average price of $21.97 per share.
- Interpublic's Board of Directors authorized a new program to repurchase, from time to time, up to $300 million of the company's common stock. The new share repurchase program, which is in addition to any amounts remaining for repurchase under the program announced in 2017, will take effect immediately and has no expiration date.