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Whirlpool Corporation Announces $1 Billion Share Repurchase Program And Increases Quarterly Dividend By 11%

BENTON HARBOR, Mich., April 18, 2016 /PRNewswire/ -- The board of directors of Whirlpool Corporation has authorized a $1 billion share repurchase program.

The company's board of directors also approved an 11 percent increase in the quarterly dividend on the company's common stock to one dollar per share from 90 cents per share. The dividend is payable June 15, 2016, to stockholders of record at the close of business on May 20, 2016.

"We continue to execute our balanced capital allocation strategy to enhance returns to shareholders," said Jeff M. Fettig, chairman and chief executive officer of Whirlpool Corporation. "Our new share repurchase program and...