logo
Plus   Neg
Share
Email

Jacobs' Board Approves $1 Bln Share Repurchase, 13% Hike In Quarterly Dividend

Professional services company Jacobs Engineering Group Inc. (JEC) announced late Thursday that its Board of Directors has approved a $1 billion incremental share repurchase authorization and a 13 percent increase to its quarterly dividend rate.

Since December 2018, the company has repurchased approximately $184 million of the remaining $247 million authorization and is continuing to make repurchases under its previously approved plan. The company's announced $1 billion share repurchase program has a 3-year maximum authorized duration.

Additionally, the Board increased the quarterly cash dividend payable to shareholders to $0.17 per share, up from its previous quarterly dividend of $0.15. This dividend will be paid on March 15, 2019 to shareholders of record as of the close of business on Feb. 15, 2019.

Jacobs continues to expect the sale of its Energy, Chemicals and Resources business to close in the first half of calendar year 2019.

Jacobs shares gained 1.39 percent on Thursday's regular trading and settled at $60.52. In the after hours trading, shares gained 0.8 percent further to $61.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Amazon Inc. is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service. Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. With the latest funding round, Deliveroo has raised $1.53 billion. While reporting financial results for the first quarter on Friday, Deere & Co. (DE) slashed its earnings and revenue growth guidance for the full-year 2019. The company said the lower forecast is partly a result of actions taken by it to prudently manage field inventories, which will cause production... European Union regulators on Thursday fined five global banks a total of 1.07 billion euros, or $1.2 billion, for participating in foreign exchange spot trading cartels and manipulating the foreign-exchange currency market. The five banks are Barclays, Royal Bank of Scotland, Citigroup, JPMorgan Chase and Japan's MUFG Bank, formerly known as Bank of Tokyo-Mitsubishi.
Follow RTT