Thanks, Hunger Games! LGF Stock Declares First-Ever Dividend

by Christopher Freeburn | December 19, 2013 11:26 am

Thanks, Hunger Games! LGF Stock Declares First-Ever Dividend

Movie studio Lionsgate (LGF[1]) is capping a very good year with a gift to investors, announcing its first dividend ever[2]. The news sent LGF stock surging more than 4% in Thursday morning trading.

hunger games franchise 630 150x150 Thanks, Hunger Games! LGF Stock Declares First Ever Dividend[3]
Source: Flickr[4]

The studio will pay a cash dividend of five cents for each common share on February 7. The dividend will be paid to investors who hold LGF stock on Dec. 31. Lionsgate also revealed in a filing with the Securities and Exchange Commission (SEC) that it will increase its authorized share buyback program[5] to $300 million. Lionsgate had repurchased $65 million in LGF stock under an existing stock buyback program,  notes.

LGF stock has jumped more than 79% in 2013. The studio is riding high on a wave of box office hits, including The Hunger Games: Catching Fire[6], The Twilight Saga Breaking Dawn — Part 2, Now You See Me and The Expendables 2.

Endnotes:
  1. LGF: http://studio-5.financialcontent.com/investplace/quote?Symbol=LGF
  2. announcing its first dividend ever: http://online.wsj.com/article/PR-CO-20131219-905984.html
  3. [Image]: http://investorplace.com/wp-content/uploads/2012/02/hunger-games-franchise-630.jpg
  4. Flickr: http://www.flickr.com/photos/57959121@N03/
  5. increase its authorized share buyback program: http://www.deadline.com/2013/12/lionsgate-to-offer-first-quarterly-dividend/
  6. The Hunger Games: Catching Fire: http://investorplace.com/2013/10/advanced-tickets-for-hunger-games-sequel-are-on-fire/

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