“Additionally, Spectrum Brands announced this week the initiation of a dividend program that underscores its strong and sustainable free cash flow generation and its focus on delivering solid returns to its shareholders. Achieving this milestone is a significant accomplishment for Spectrum Brands, and we applaud their management team for their hard work and financial discipline that has enabled the company to make significant strides in value creation and long-term growth for its shareholders. Given Spectrum Brands’ strong performance, they now have the capacity to pay a one-time special dividend of $1.00 per common share and begin a recurring, quarterly dividend program of $0.25 per common share. The dividend’s yield today is approximately 2.8%, and in future years Spectrum Brands will consider the opportunity to increase the dividend in line with the growth of their free cash flow.”“Our leading market position today in the insurance business is a reflection of our strong management team and the power of our insurance franchise. Additionally, we continue to see opportunities to grow the business given FGL’s significant sales growth and excess levels of cash.”
Harbinger Group Inc. Reports $1 Billion In Revenues For Third Quarter Fiscal 2012 On Continued Progress At Operating Subsidiaries
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