Interactive multichannel retailer HSN, Inc. Buyback
OLI recorded this information on 1/28/2015
Company:
Interactive multichannel retailer HSN, Inc.
Buyback:
HSNI buyback
Share Amount Authorized:
4000000
Buyback Details:
Interactive multichannel retailer HSN, Inc. (Nasdaq:HSNI) announced today that it has entered into a new $1.25 billion five-year credit facility, replacing its existing $600 million credit facility. Additionally, in continuation of the company's capital return plan, the board of directors declared a special cash dividend of $10.00 per share, representing approximately $525 million in the aggregate, payable February 19, 2015 to shareholders of record as of February 9, 2015. The board also authorized a share repurchase program covering 4 million shares, principally to offset dilution related to the company's equity compensation programs.
HSN is an interactive multi-channel retailer operating through various platforms including television, online, mobile, catalogs and in retail and outlet stores through the six brands of its two operating segments, HSN and Cornerstone. HSN is an entertainment and lifestyle retailer providing a range of products and brand names through television home shopping programming on the HSN television networks, through its business-to-consumer digital commerce sites HSN.com and joymangano.com, through mobile applications, through its outlet stores and through its wholesale distribution of certain proprietary products to other retailers. Cornerstone is comprised of home and apparel lifestyle brands.
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Hold (2.50 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
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