{"id":755304,"date":"2023-05-04T18:11:14","date_gmt":"2023-05-04T22:11:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pool-corporation-announces-an-increase-in-its-share-repurchase-program-to-a-total-authorization-of-600-million-a-quarterly-cash-dividend-increase-and-2023-annual-meeting-of-stockholders-voting-resul\/"},"modified":"2023-05-04T18:11:14","modified_gmt":"2023-05-04T22:11:14","slug":"pool-corporation-announces-an-increase-in-its-share-repurchase-program-to-a-total-authorization-of-600-million-a-quarterly-cash-dividend-increase-and-2023-annual-meeting-of-stockholders-voting-resul","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pool-corporation-announces-an-increase-in-its-share-repurchase-program-to-a-total-authorization-of-600-million-a-quarterly-cash-dividend-increase-and-2023-annual-meeting-of-stockholders-voting-resul\/","title":{"rendered":"Pool Corporation Announces an Increase in Its Share Repurchase Program to a Total Authorization of $600 Million, a Quarterly Cash Dividend Increase and 2023 Annual Meeting of Stockholders Voting Results"},"content":{"rendered":"
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COVINGTON, La., May 04, 2023 (GLOBE NEWSWIRE) — Pool Corporation (Nasdaq\/GSM:POOL) announced today that its Board of Directors (the Board) has authorized an additional $413.6\u00a0million under its existing share repurchase program for the purchase of the company\u2019s common stock in the open market at prevailing market prices. This amount adds to the $186.4\u00a0million remaining under its existing authorization as of May\u00a03, 2023, bringing its total authorization available to $600.0\u00a0million. The share repurchase program will continue until otherwise modified or terminated by the Board at any time in its sole discretion.<\/p>\n

The company also announced that the Board has declared a quarterly cash dividend of $1.10 per share, a 10% increase over the previous quarterly dividend amount of $1.00 per share. The dividend is payable on May\u00a031, 2023 to stockholders of record on May\u00a017, 2023. As of May\u00a03, 2023, there were 39,041,377 shares of common stock outstanding.<\/p>\n

Mr. Stokely, Chairman of the Board, commented, \u201cWe appreciate the steadfast support from our shareholders, with whom we have enjoyed great achievements. Today marks the 18th time that POOLCORP has increased its quarterly dividend payment since 2004 as we continue our trajectory of returning cash to shareholders through dividends and share repurchases. We look forward to continuing success ahead as our seasoned management team remains focused on creating exceptional value for our shareholders, our customers and suppliers, and our employees.\u201d<\/p>\n

At POOLCORP\u2019s Annual Meeting of Stockholders on May\u00a03, 2023, stockholders elected Peter D. Arvan, Martha \u201cMarty\u201d S. Gervasi, James \u201cJim\u201d D. Hope, Debra S. Oler, Manuel\u00a0J.\u00a0Perez\u00a0de\u00a0la\u00a0Mesa, Carlos A. Sabater, Robert\u00a0C.\u00a0Sledd, John E. Stokely and David G. Whalen to serve as directors for the ensuing year.<\/p>\n

The voting results on the other proposals for this year\u2019s meeting are as follows:<\/p>\n