Dean Foods said today (2 March) that it plans to return US$2bn to its stockholders through a special one-time cash dividend of $15 a share.
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The company will finance the move through a recapitalisation of its balance sheet, involving $4.8bn in new senior secured credit facilities.
The dividend is payable on 2 April to shareholders of record from 27 March.
The company said it still expects EPS of $0.44-$0.46 for the first quarter. For the full year it now predicts EPS of $1.72-$1.78 a share.
Dean Foods shares increased 3.06% today to $46.78 at time of press.
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