Arab Today, arab today aol unveils buyback special dividend
Last Updated : GMT 21:11:51
Arab Today, arab today
Arab Today, arab today

AOL unveils buyback, special dividend

Arab Today, arab today

Arab Today, arab today AOL unveils buyback, special dividend

Washington - AFP

AOL said Monday it was launching a share buyback worth some $600 million and paying a special dividend as part of its plan to distribute proceeds from a billion-dollar patent sale. The once high-flying Internet firm, which is reshaping itself as a media company, finalized plans to distribute $1.1 billion from its sale of patents earlier this year to Microsoft. \"Today\'s announcement underscores AOL\'s commitment to delivering value for our shareholders,\" said AOL chairman and chief executive Tim Armstrong. \"AOL remains committed to creating and unlocking value for all shareholders through smart execution and disciplined management of our asset portfolio.\" AOL, which has been fighting off an activist hedge fund\'s attempt to wrest control, has agreed to repurchase $600 million worth of common stock by the end of the year. Additionally, it will pay a special, one-time, cash dividend of $5.15 per share, on December 14. In its most recent quarter, AOL posted a profit of $970.8 million, boosted by the big sale of patents. Earlier this year, the Starboard Value hedge fund AOL criticized the strategy of the current management for failing to deliver for shareholders and sought a shakeup. Starboard Value said in a February letter to the AOL board it was \"troubled that the company remains closed-minded to alternative value creation initiatives, and instead appears solely focused on pursuing the status quo.\" AOL, formerly known as America Online, has been struggling since the collapse of its leadership as an Internet subscription service, and has been seeking to become a more diversified Web firm. It fused with news and entertainment giant Time Warner in 2001 at the height of the dotcom boom in what is considered one of the most disastrous mergers ever. It was spun off by Time Warner in December 2009 into an independent company and has been struggling since then as it tries to focus on media and news.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today aol unveils buyback special dividend Arab Today, arab today aol unveils buyback special dividend

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today aol unveils buyback special dividend Arab Today, arab today aol unveils buyback special dividend

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday