by Christopher Freeburn | December 19, 2013 11:26 am
Movie studio Lionsgate (LGF) is capping a very good year with a gift to investors, announcing its first dividend ever. The news sent LGF stock surging more than 4% in Thursday morning trading.
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 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, The Twilight Saga Breaking Dawn — Part 2, Now You See Me and The Expendables 2.
Source URL: http://investorplace.com/2013/12/thanks-hunger-games-lgf-stock-declares-first-ever-dividend/
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