Tue, Nov. 29, 2:35 PM
Tue, Aug. 30, 7:10 AM
Oct. 23, 2014, 5:40 PM
- Juniper Networks (NYSE:JNPR) declares $0.10/share quarterly dividend, in line with previous.
- Forward yield 1.97%
- Payable Dec. 23; for shareholders of record Dec. 2; ex-div Nov. 28.
Feb. 20, 2014, 4:53 PM
- As promised, Juniper (JNPR) and new CEO Shaygan Kheradpir have rolled out an "Integrated Operating Plan" that checks off many items on Elliott Management and Jana Partners' wish lists.
- Juniper will initiate a $0.10/share dividend in Q3 (current yield of 1.4%), and says it intends to grow its payout over time. The company also promises to spend $2B+ on buybacks through Q1 2015, and to create a new "One-Juniper" corporate structure that will yield $160M/year in opex savings by Q1 2015, and a 2015 op. margin of 25% (up 580 bps from 2013).
- The company adds Kheradpir wants Juniper to "focus on the fastest growing networking segments." Details are light for now, but the comments could suggest lower investments in slow-growing security and corporate Ethernet switch markets where Juniper has struggled. McKinsey has been hired to help with Juniper's restructuring.
- As part of buyback efforts, Juniper plans to enter into a $1.2B accelerated share repurchase agreement. Between dividends and buybacks, the company plans to return at least $3B over the next three years.
- JNPR +1.6% AH. Some of the news was priced in.
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