: Tegna announces $300 million buyback, dividend hike after scrapped merger deal with Standard General


Shares of Tegna Inc. TGNA, -2.78% rose after hours on Monday after the TV-station operator announced a $300 million “accelerated” stock buyback and raised its quarterly dividend by 20% following the termination of a merger deal with the hedge fund Standard General struck last year. Tegna executives also said they were “actively reviewing the return of additional excess capital that accumulated during the pending merger,” which faced a Monday financing deadline and got hung up in the regulatory review process. Shares rose 2.4% after hours.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleLiving With Climate Change: Breakthrough deal struck to keep drought-ravaged Colorado River flowing — key water source for California
Next articleDow ends down over 100 points as Nasdaq notches new 2023 high


Please enter your comment!
Please enter your name here