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Sept. 17, 2019, 8:18 a.m. EDT

Masco boosts dividend, sets new $2 billion stock repurchase program

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By Tomi Kilgore

Masco Corp. /zigman2/quotes/202412472/composite MAS +0.22% said Tuesday it approved a new $2 billion stock repurchase program, and declared a quarterly dividend of 13.5 cents a share, which is up from the previous dividend of 12 cents a share. The home improvement and building products company's new dividend will be payable Nov. 12 to shareholders of record on Oct. 11. Based on Monday's stock closing price of $42.72, the new annual dividend rate implies a dividend yield of 1.26%, compared with the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.05% of 1.95%. And at Monday's closing price, the new stock repurchase program, which cancels the previous program, could represent 46.8 million shares, or about 16% of the shares outstanding. Masco's stock, which was unchanged in premarket trading, has run up 46% year to date, while the S&P 500 has gained 20%.

/zigman2/quotes/202412472/composite
US : U.S.: NYSE
$ 49.80
+0.11 +0.22%
Volume: 1.67M
July 10, 2020 4:03p
P/E Ratio
31.45
Dividend Yield
1.08%
Market Cap
$13.14 billion
Rev. per Employee
$321,500
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/zigman2/quotes/210599714/realtime
US : S&P US
3,185.04
+32.99 +1.05%
Volume: 2.41B
July 10, 2020 5:09p
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