|TIVO declared a quarterly dividend of $.18|
Pay date 3/15
Record date 3/1
4:19 pm TiVo reports Q4 (Dec) results, beats on revs; guides FY17 revs in-line; declares quarterly dividend, increases repurchase authorization ( TIVO) :
- Reports Q4 (Dec) earnings of $0.08 per share, may not be comparable to the Capital IQ Consensus of $0.54; revenues rose 68.7% year/year to $252.34 mln vs the $227.42 mln Capital IQ Consensus."
- The TiVo integration is proceeding as planned and we continue to expect revenues in excess of $800 million for 2017. We also continue to expect cost synergies of at least $100 million with 65% coming from actions taken within 12 months of the close."
- Co issues in-line guidance for FY17, sees FY17 revs of $800-835 mln vs. $824.17 mln Capital IQ Consensus Estimate; sees Non-GAAP Pre-tax Income of $200 million to $225 millionTiVo's Board of Directors declared a quarterly cash dividend of $0.18 per common share, to be paid on March 15, 2017, to all stockholders of record as of the close of business on March 1, 2017.
- TiVo's Board believes it can reward its stockholders with a meaningful quarterly dividend, while maintaining ample capacity for the company to invest in the business, pursue its long term growth aspirations, and consider additional capital allocation alternatives such as opportunistic stock repurchases. On that front, the Board also increased the Company's stock repurchase program authorization to $150 million. Pursuant to its strategy of allocating excess capital to the highest risk-adjusted return alternative available, the Board will continue to regularly review all available capital allocation opportunities.