Sturm, Ruger & Company, Inc. Declares Quarterly Dividend of 7.8¢ Per Share and Announces The Expansion of its Stock Repurchase Program To $10 Million
November 01, 2010
Sturm, Ruger & Company, Inc. (NYSE: RGR) announced today that its Board of Directors declared a quarterly dividend of 7.8¢ per share on the Company's issued and outstanding shares of common stock. This cash dividend will be paid on November 26, 2010 to stockholders of record as of November 12, 2010.
Chief Executive Officer Michael O. Fifer commented on the Company's dividend practice, "Since 2009, our quarterly dividends have been based on operating results, which necessarily vary every quarter. Therefore, the amount per share of the quarterly dividend fluctuates each quarter and better reflects the operating results of the Company." Today, the Company also announced that its Board of Directors has expanded its stock repurchase program from $4.3 million to $10 million. The Company is now authorized to repurchase up to $10 million of its common stock from time to time in the open market or through privately negotiated transactions.
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