Towers Watson Announces Authorization to Repurchase Shares and Increase to Regular Quarterly Dividend
ARLINGTON, Va.--(BUSINESS WIRE)--Towers Watson (NYSE, NASDAQ: TW), a leading global professional services company, announced that its Board of Directors has approved the purchase of up to $300 million of the company's class A common stock and has terminated the existing share repurchase authorizations. Under this new authorization, the company will continue to offset share dilution as a result of stock based compensation programs and may make opportunistic repurchases of common stock from time to time through open-market purchases, in privately negotiated transactions or otherwise. The amount and timing of any purchases will depend upon a number of factors, including the price and availability of the company's shares and general market conditions. No time limit has been placed on the duration of the share repurchase program, and it may be discontinued at any time.
The Company also announced that its Board of Directors approved a regular quarterly cash dividend of $0.15 per common share for the quarter ended June 30, 2014. This represents a 7% increase. The dividend is payable on or about October 15, 2014 to stockholders of record at the close of business on September 30, 2014.
About Towers Watson
Towers Watson (NYSE, NASDAQ: TW) is a leading global professional services company that helps organizations improve performance through effective people, risk and financial management. The company offers consulting, technology and solutions in the areas of benefits, talent management, rewards, and risk and capital management. Towers Watson has more than 14,000 associates around the world and is located on the web at www.towerswatson.com.