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Hasbro increases quarterly cash dividend by 11%

Hasbro Inc. increased its quarterly cash dividend by 11% to 63 cents per share from the previous dividend of 57 cents per share, according to the earnings report it released Feb. 7 for the full year and fourth-quarter 2017 period ended Dec. 31, 2017.

The dividend will be payable on May 15 to shareholders of record as of May 1.

Excluding the impact of the U.S. tax reform, Hasbro's adjusted net earnings for the full fiscal year reached $693.1 million or $5.46 per diluted share, beating the S&P Capital IQ consensus estimate of $4.95 per diluted share. In the comparable period a year ago, Hasbro's adjusted net earnings were $566.1 million or $4.46 per diluted share.

The toymaker's reported net earnings for the full fiscal year came in at $396.6 million or $3.12 per diluted share.

For the fourth quarter, Hasbro posted a net loss of $5.3 million or 4 cents a share. Its adjusted net earnings, excluding the impact of the tax reform, was $291.2 million or $2.30 per diluted share, also higher than the S&P Capital IQ consensus estimate of $1.81 per diluted share. This compares to net earnings of $207.4 million or $1.64 per diluted share that the company posted in the fourth quarter of fiscal 2016.

Hasbro said it repurchased 1.58 million shares of common stock at a total cost of $150.0 million and an average price of $94.74 per share for full-year 2017. At year-end, $178 million remained available in its current share repurchase authorization.