Hasbro announces 20% dividend boost ahead of 4Q results
Posted on February 3rd, 2011
PAWTUCKET – Toy maker Hasbro Inc. announced a 20 percent boost in its quarterly cash dividend on Friday.
The board of directors announced a dividend of 30 cents per common share, up 5 cents from the previous quarter, which will be payable on May 16.
“Given our strong cash generation, healthy financial position and confidence in our ability to successfully execute our branded-play strategy in 2011 and beyond, our board of directors has voted to increase the dividend,” said Brian Goldner, president and CEO.
Hasbro is expected to announce its fourth-quarter results Monday morning and hold a conference call at 8:30 a.m. following the financial release. Last month, the Pawtucket-based manufacturer said that sales in 2010 unexpectedly declined in the U.S. as consumers spent less than anticipated during the holidays.
Competitor Mattel Inc., however, enjoyed a boost in stock market trading Wednesday after announcing higher sales of its Barbie brand fueled its fourth-quarter profit, which came in above analysts’ estimates.
According to Yahoo! Finance, Hasbro was up 30 cents in midday trading at $44.88.
Similar Posts:
- Hasbro reports profit up in 2Q
- Sensata in the red for $35M
- Sale of Barnes & Noble
- ConocoPhillips announces plans to separate
- DuPont Profits Indicate Where Global Economy Might Be Recovering
Tags: Boost, Dividend Boost
Filed under Business Directory |