Baker Hughes Incorporated (NYSE: BHI) has decided to release some of its cash as a reward for its shareholders. The company has just jacked up its dividend to $0.15 per share, up about 15% from the previous $0.13 per share dividend. The company has also announced that it will repurchase up to $1 billion of the company’s common stock in addition to the existing stock repurchase plan which will now have approximately $1.246 billion remaining.
For a comparison on what this looks like, the stock yield based upon today’s prices is roughly 0.7%. As far as comparing the share buyback, its market cap is just north of $25 Billion.
Shares are down only about 0.3% today immediately before the close.
Jon C. Ogg
July 24, 2008
Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)
Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.
Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.
Click here now to get started.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
