ST. LOUIS--(BUSINESS WIRE)--
The Board of Directors of Belden Inc. (NYSE: BDC) today approved a new
share repurchase authorization and declared quarterly dividends to
holders of its common stock and 6.75% series B mandatory convertible
preferred stock. Specifics regarding the share repurchase authorization
and dividends are as follows:
-
A new share repurchase authorization that enables the Company to
purchase up to $200 million of its common stock through open market
purchases, negotiated transactions, or other means, in accordance with
applicable securities laws and other restrictions. This share
repurchase authorization does not have an expiration date.
-
A quarterly dividend to holders of common stock of $0.05 per share
payable on July 6, 2017 to shareholders of record as of June 15, 2017.
-
A quarterly to dividend to holders of the 6.75% series B mandatory
convertible preferred stock of $168.75 per share, payable on July 17,
2017 to shareholders of record as of July 1, 2017
About Belden
Belden Inc. delivers a comprehensive product portfolio designed to meet
the mission-critical network infrastructure needs of industrial,
enterprise and broadcast markets. With innovative solutions targeted at
reliable and secure transmission of rapidly growing amounts of data,
audio and video needed for today's applications, Belden is at the center
of the global transformation to a connected world. Founded in 1902, the
company is headquartered in St. Louis and has manufacturing capabilities
in North and South America, Europe and Asia. For more information, visit
us at www.belden.com
or follow us on Twitter @BeldenInc.
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Source: Belden Inc.