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Stock impact report

Kansas City Southern Announces Updated Capital Allocation Policy; Increases Dividend and Announces New $3B Share Repurchase Program

Kansas City Southern (KSU) 
Last kansas city southern earnings: 4/17 08:00 am Check Earnings Report
US:NYSE Investor Relations: investors.kcsouthern.com
Company Research Source: Business Wire
KANSAS CITY, Mo.--(BUSINESS WIRE)--Kansas City Southern (KCS) (NYSE: KSU) announced that its Board of Directors approved updates to its capital allocation policy. Under this updated policy, the Company intends to continue deploying available cash in the following manner:Approximately 40-50% to capital projects and strategic investments; andApproximately 50-60% to share repurchases and dividends.In addition, from time to time, the Company also plans to prudently use additional debt to support the revised policy and intends to increase its Debt-to-EBITDA ratio to the mid-2x range, consistent with its current ratings of BBB from Standard & Poor’s and Fitch Ratings and Baa2 from Moody’s.In connection with this updated policy, the Board also approved the following actions:An increase in the quarterly dividend on KCS’s common stock from $0.40 to $0.44 per share. The board declared a common stock dividend for this increased amount payable on January 20, 2021, to stockholders of record at Show less Read more
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