HUBBELL INCORPORATED (NYSE:HUBB) Files An 8-K Regulation FD DisclosureItem 8.01 Regulation FD Disclosure.
On October 20, 2017, Hubbell Incorporated (the “Company”) announced that the Board of Directors of the Company approved an increase in the common stock dividend rate from $0.70 to $0.77 per share per quarter. The increased quarterly dividend payment will commence with the December 15, 2017 dividend payment made to shareholders of record on November 30, 2017.
A copy of the press release issued by the Company concerning, among other things, the common stock dividend rate increase is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by this reference.
The information furnished to this Item 8.01, including reference to the common stock dividend rate increase in Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to liabilities under that section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 8.01Other Events.
On October 20, 2017, the Board of Directors of the Company approved a new stock repurchase program (the “Stock Repurchase Program”) that authorizes the repurchase of up to $400 million of the Company’s common stock (excluding any fees, commissions or other expenses related to such repurchases). Subject to numerous factors, including market conditions and alternative uses of cash, the Company may conduct discretionary repurchases through open market purchases, privately negotiated transactions, or other transactions, which may include repurchases under plans complying with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934, as amended. Unless extended, the foregoing authorization will expire on October 20, 2020. The Stock Repurchase Program replaces the previous common stock repurchase program that expired in October 2017.
A copy of the press release issued by the Company announcing, among other things, the Stock Repurchase Program is attached hereto as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by this reference.
Item 8.01Financial Statements and Exhibits.
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EXHIBITNO. |
DOCUMENT DESCRIPTION |
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99.1 |
Press Release, dated October 20, 2017. |
HUBBELL INC ExhibitEX-99.1 2 exhibit991_10202017.htm EXHIBIT 99.1 Exhibit Exhibit 99.1 Date:October 20,…To view the full exhibit click here
About HUBBELL INCORPORATED (NYSE:HUBB)
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products. The Power segment consists of operations that design and manufacture various distribution, transmission, substation and telecommunications products used by the electrical utility industry. Its businesses also design and manufacture various high-voltage test and measurement equipment, industrial controls and communication systems used in the non-residential and industrial markets. Its wiring and electrical products include cable reels, wiring devices and accessories, junction boxes, plugs and receptacles, cable glands and fittings, switches and dimmers. It offers a range of light-emitting diode (LED) luminaire products.