Triumph Group Declares Quarterly Dividend; Increase in Stock Repurchase Program
WAYNE, Pa.--(BUSINESS WIRE)--Feb. 13, 2008--Triumph Group, Inc. (NYSE:TGI) today announced that its Board of Directors has declared a regular quarterly dividend of $0.04 per share on its outstanding common stock. The dividend is payable March 15, 2008 to shareholders of record as of February 29, 2008.
The Board has also authorized an increase in the company's existing stock repurchase program by up to an additional 500,000 shares of its common stock. The increase brings the total amount authorized under the plan to 1 million shares. From February 4, 2008 through February 8, 2008, the company purchased 220,000 of its outstanding shares under the program at a total cost of $12,342,433 or an average price of $55.91 per share. As of February 12, 2008, the company remains able to purchase an additional 500,000 shares. Repurchases may be made from time to time in open market transactions, block purchases, privately negotiated transactions or otherwise at prevailing prices. No time limit has been set for the completion of the program.
Triumph Group, Inc., headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls aircraft components and accessories. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
More information about Triumph can be found on the Internet at http://www.triumphgroup.com.
CONTACT: Triumph Group, Inc. Sheila G. Spagnolo, Vice President, 610-251-1000 firstname.lastname@example.org SOURCE: Triumph Group, Inc.