Today, June 2, 2015, Energizer Holdings, Inc. (NYSE: ENR) issued a press release regarding their program and plans for dividends, in which the company declares a dividend of $0.25 a share of common stock. This dividend is set to be payable to shareholders on September 9, 2015, to be on record for the close of business on August 19, 2015. The company expects to pay a $0.25 cash dividend in each quarter payable in the following months: March, June, September and December. This new dividend program has been set in motion by the company’s new Board of Directors and any future declarations or adjustments on dividends must be approved by the company’s new Board.
The company’s new Board of Directors also approved the plan to acquire a maximum of 7.5 million shares of their common stock; these purchases will take place over time in the open market. Energizer will make these transactions based on the following evaluations and conditions: market condition, capital allocation plans, legal/ regulatory requirements, etc.
Both the program and plan set by the company regarding their dividend and shares is in the best interest of the shareholders. Energizer’s efforts and goals are to increase shareholder value and emphasize their commitment. These are all positive efforts made by the company after their press release issued yesterday June 1, 2015 regarding the company’s spin-off of the parent company Edgewell Personal Care Company ("Edgewell"). Trading for the company, Energizer, begun yesterday as an independent company from the parent.