Interpublic Announces 25% Dividend Hike, New $300 Million Share Repurchase Program

Interpublic Group of Companies Inc (NYSE: IPG) announced Friday that its Board of Directors authorized a hike to the stock's quarterly dividend as well as a new share repurchase program.

Interpublic's stock will now pay a quarterly dividend of $0.15 per share, marking a 25 percent increase from the prior dividend of $0.12 per share. In addition, the company is now authorized to repurchase up to $300 million worth of its common stock as part of a new share repurchase program.

Michael I. Roth, Chairman and CEO of Interpublic Group commented, "These actions build on a sustained capital return program that IPG initiated in 2011. Since that time, we have returned a total of $2.5 billion to shareholders through a combination of dividends and share repurchase, and reduced our outstanding shares eligible for dilution by over 25%. Today's announcement demonstrates our continued confidence in the financial and operational strength of IPG."

Interpublic's stock showed no trades early Friday morning.