Domino's Orders Up a Dividend
It says the new structure is for the best.
Domino's Pizza (DPZ) - Get Free Report completed a refinancing and declared a $13.50-a-share special dividend.
The company said it closed a $1.85 billion securitized debt facility and set plans to buy back up to $200 million in stock.
"We believe this new capital structure is the appropriate corporate finance decision for our company," said CEO David Brandon. "We expect the $13.50 per share dividend will trigger a near-term corresponding decrease in our stock price. However, our plan going forward will be to provide a strong operating environment for our system of stores, which will deliver significant upside growth potential for our franchisees, team members and shareholders."
