Sonic Corp (SONC) Declares $0.14 Quarterly Dividend; 2.2% Yield
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Sonic Increases Share Repurchase Authorization by $40 Million
October 20, 2016 4:38 PM EDTDeclares Quarterly Dividend
OKLAHOMA CITY--(BUSINESS WIRE)-- Sonic Corp. (NASDAQ: SONC), the nation's largest chain of drive-in restaurants, today announced that its Board of Directors has increased its authorization under the share repurchase program by $40 million. The additional authorization allows for up to $195 million of common stock to be repurchased through August 31, 2017. In fiscal 2016, the company repurchased approximately $148 million in common stock, including $22 million under the current program, leaving $173 million remaining under the enhanced authorization for repurchase during fiscal 2017. Share repurchases may be made from time to time in the open... More
