MILWAUKEE, Aug. 15, 2019 /PRNewswire/ -- Briggs & Stratton Corporation (NYSE: BGG):
In connection with its regular quarterly meeting, the Board of Directors of Briggs & Stratton Corporation declared a quarterly dividend of five cents ($0.05) per share on the common stock of the Corporation. The dividend is payable October 2, 2019, to shareholders of record at the close of business September 18, 2019. This dividend is a reduction from the previous level of $0.14 per share.
"This action will help us to direct more funds to debt reduction and investments in attractive commercial products and enabling technologies. It sets a payout that we believe is sustainable and can grow over time. Going forward, we will continue to direct funds in those areas that deliver the highest risk-adjusted return on investment," stated Todd J. Teske, Briggs & Stratton's Chairman and Chief Executive Officer.
BRIGGS & STRATTON CORPORATION
Mark A. Schwertfeger
Senior Vice President and
Chief Financial Officer
SOURCE Briggs & Stratton Corporation