Nutrition and fitness company Herbalife (NYSE:HLF) on Monday announced second-quarter net income of $133.4 million or $1.10 per diluted share, up from $111.2 million or 88 cents per share one year ago and better than analyst calls for 96 cents per share. Revenue during the same period increased 17% to $1 billion.
The news was enough to send Herbalife stock up more than 5% in after-hours trading.
The company cited a 23% increase in volume points — the “International Herbalife Currency” used to track sales worldwide — for the increase in revenue.
Herbalife also announced a 30-cent increase in its dividend for all shareholders of record as of Aug. 14. The new dividend will be paid out Aug. 30.
The Friday before the announcement, Herbalife completed a $427.9 million stock repurchase agreement announced in May. Overall, the company repurchased 9.2 million shares for $46.37 each. On Monday, Herbalife announced an additional $1 billion repurchase authorization to be completed by 2017.
— Ryan Hauck, InvestorPlace