Energizer Holdings Inc., fresh from spinning off its
personal-products business, has declared a first-time 25 cent
dividend and approved the repurchase of an additional 7.5 million
shares of common stock.
The dividend will cost Energizer about $15.5 million a
quarter.
The St. Louis-based company recently split into two independent,
publicly traded companies—Energizer, focused on household products
including the namesake brand, and the other on personal products
like Hawaiian Tropic and Edge shaving cream and called Edgewell
Personal Care Company.
Earlier this month, Energizer secured approval to buy back up to
10 million shares. That authorization replaced a similar approval
under which Energizer had bought about 5 million shares over the
past three years.
Before the split, Energizer in May said it swung to a loss in
its latest quarter, mostly due to restructuring charges, an
accounting change and the effect of a stronger dollar.
Write to Angela Chen at angela.chen@dowjones.com
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