MILWAUKEE, April 21, 2016 /PRNewswire/ -- Briggs &
Stratton Corporation (NYSE:BGG):
At its regular quarterly meeting held today, the Board of
Directors of Briggs & Stratton Corporation declared a quarterly
dividend of thirteen and one half cents ($0.135) per share on the common stock of the
Corporation. The dividend is payable June 30, 2016 to shareholders of record at the
close of business June 17, 2016.
Also, at its regular quarterly meeting held today, the Board of
Directors of Briggs & Stratton Corporation authorized
$50 million in funds for use in the
Company's stock repurchase program with an expiration of
June 29, 2018. Briggs &
Stratton will repurchase shares of common stock, using available
cash, on the open market or in private transactions from time to
time, depending on market conditions.
Todd Teske, Briggs & Stratton
Chairman, President and Chief Executive Officer, said "The Board's
actions today reflect continued confidence in our strategy, the
long-term prospects of the business and our commitment to increase
shareholder value. We continue to have a disciplined, balance
approach to capital allocation which allows us to opportunistically
repurchase common shares while maintaining the flexibility to make
strategic investments in the business. We believe the
business has significant upside potential as we continue to focus
on innovation and margin expansion."
BRIGGS & STRATTON
CORPORATION
Mark A.
Schwertfeger
Senior Vice President and Chief Financial Officer
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SOURCE Briggs & Stratton Corporation