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Stratus Properties Plans Special Cash Dividend & Stock Buyback

  • Stratus Properties Inc (NASDAQ: STRS) said its Board of Directors has decided to return $50 million to shareholders through a special cash dividend and share buyback.

  • The Board declared a special cash dividend of $4.67 per share on Stratus' common stock, payable on September 29, 2022, to shareholders of record as of September 19, 2022.

  • The cash dividend will total about $40 million. The rest $10 million is the share buyback program.

  • Stratus held $110.5 million in cash and equivalents as of June 30, 2022.

  • "We are proud to be able to share the gains from our successful development program and recent project sales directly with our shareholders,” said Chairman and CEO William H. Armstrong III.

  • Price Action: STRS shares are trading higher by 6.56% at $37.50 on the last check Friday.

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