ATGE - Laureate to pay $7.01/share dividend from Walden University sale

Laureate Education (NASDAQ:LAUR) announces that it will distribute a special partial liquidation dividend of $7.01 per share on October 29, 2021 to stockholders. The total distribution will be approximately $1.29B. $158M from the sale is currently held in escrow or related collateralized regulatory obligations. The company plans to pay out an additional distribution any additional net proceeds from that amount by year-end. Last week, Laureate sold Walden University to Adtalem Global Education (ATGE +0.5%). Laureate now holds 2 universities in Mexico and 2 universities and one vocational school in Peru. Shares are up 7.61% AH. The company previously said that it would return excess cash to shareholders in its quarterly earnings call after reaching a net cash position of $345M as of June 30 and expecting $1.3B in proceeds after taxes and fees from the Walden sale.

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Laureate to pay $7.01/share dividend from Walden University sale