GO
Loading...

Lehman Brothers Raises Dividend, Sets Buyback

Lehman Brothers said it is raising its dividend by 25%, and said it had authorization to buy back nearly 20% of its shares.

After a year of record profits, Wall Street firms are returning millions of dollars to their shareholders through dividends and buybacks.

Lehman raised its dividend to 60 cents a share from 48 cents a share.

The investment bank also said it had authorized the buyback of up to 100 million shares, including new shares issued under employee stock awards. As of Nov. 30, the company had about 533 million shares outstanding. The repurchase program supersedes Lehman's existing buyback program.

Featured

  • The Marriner S. Eccles Federal Reserve building in Washington.

    CNBC's Fed Survey shows market pros aren't very confident the Fed can end its easy money polices without a market crash, a recession or bad inflation.

  • Merck employees walk past a Merck sign in front of the company's building in Summit, New Jersey.

    Merck reported better-than-expected results, with sales of newer drugs offsetting declining sales of drugs facing generic competition.

  • Pfizer reported higher-than-expected second-quarter earnings, helped by growing sales of its cancer medicines.

  • An attendee is silhouetted against a Microsoft poster at the Microsoft Developers Build Conference in San Francisco, April 2, 2014.

    An agency that enforces antimonopoly laws visited company offices in four cities, as the country more closely scrutinizes multinational companies.

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video