Breaking News

Hasbro boosts stock buyback program by $500 million

Shares of Hasbro Inc. HAS, +zero.42% rose 1% in morning trade Thursday, with good points accelerating after the toymaker stated it added $500 million to its inventory repurchase program. Just ahead of the announcement, the inventory was up zero.4%. At current costs, the rise would permit the corporate to buyback as much as an additional 5.6 million stocks, or about 4.5% of the stocks outstanding. Hasbro stated at the end of the first quarter, it had $139.2 million last in its share repurchase program. Separately, the corporate declared a standard quarterly dividend of 63 cents a share, payable Aug. 15 to shareholders of file on Aug. 1. Hasbro's dividend yield is these days 2.83%, in comparison with the implied yield for the S&P 500 SPX, +zero.12% of 1.93%, in keeping with FactSet. Hasbro stocks have tumbled nine.8% during the last three months, whilst the S&P 500 has eased zero.1%.