2023-06-02 07:46:26 ET
- TEGNA ( NYSE: TGNA ) enters into an accelerated share repurchase agreement with JPMorgan Chase Bank and a 20% increase to its regular quarterly dividend.
- Under the agreement, TEGNA will repurchase $300M in shares from JPMorgan, with an initial delivery of ~15.2 shares on June 6, 2023.
- The final settlement of the agreement is expected to occur in Q3 2023.
- The previous declared dividend was $0.095 .
- The stock price is up 1.2% premarket.
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TEGNA announces $300 accelerated share buyback and a 20% raise in dividend