Endeavor Sets First Dividend, Stock Buyback Plan as it Awaits WWE Acquisition and IMG Academy Sale

  • 📰 Variety
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Business News News

Business Business Latest News,Business Business Headlines

Endeavor has big financial plans for the rest of the year as the company announced Tuesday it will declare its first dividend and begin its first stock buyback program as it awaits its acquisition …

Endeavor delivered solid first quarter results on Tuesday, powered by growth in its owned sports properties unit which is about to grow substantially asEndeavor’s events and experiences unit also was in positive territory for the quarter. But the hangover of the January 2022 sale of the Endeavor Content production unit put a dent in the representation unit’s quarterly numbers.

The dividend of up to $25 million will be declared in the third quarter. It will benefit Endeavor’s Class A shareholders, a group dominated by insiders including Endeavor CEO Ariel Emanuel, chairman Patrick Whitesell and other board members. For the quarter, Owned Sports Properties delivered revenue of $353.3 million, up 19% from the year-ago period. Adjusted EBITDA of $185.7 million was up 25% year-over- year.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 108. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PacWest leads regional bank rally. Berkshire Hathaway, Dish, AMC and other stocks on the move.PacWest leads regional bank rally, Berkshire Hathaway, Dish, AMC and other stocks on the move
Source: MarketWatch - 🏆 3. / 97 Read more »