BGC Partners Declares Dividend, Boosts Share Buyback - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, BGC Partners Inc. (BGCP) said its board of directors declared a dividend for the fourth quarter and also increased the share repurchase authorization by $170.3 million.

On February 7, 2017, BGC Partners' board declared a quarterly qualified cash dividend of $0.16 per share payable on March 14, 2017 to Class A and Class B common stockholders of record as of February 28, 2017. The ex-dividend date will be February 24, 2017.

The dividend is consistent with the previous three quarters, but up 14.3 percent year-on-year.

The board also increased the company's stock repurchase and unit redemption authorization by $170.3 million, bringing the total amount authorized to $300 million.

As of December 31, 2016, the company had $129.7 million remaining from its previous $300 million share repurchase and unit redemption authorization.