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Interpublic approves $300M stock buyback program

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Interpublic approves $300M stock buyback program

Interpublic Group of Cos. Inc.'s board approved a new program to repurchase up to $300 million of the company's common stock from time to time.

The authorization under the new program is in addition to any amounts remaining for repurchase under the program announced in 2017, the company said Feb. 14.

Also, the company declared a quarterly dividend on common stock of 21 cents per share, payable on March 15, to holders of record at the close of business on March 1.

The increase in the dividend to 21 cents from 18 cents per share represents a 17% increase to the company's quarterly dividend.