Shares of Tegna Inc. TGNA rose after hours on Monday after the TV-station operator announced a $300 million “accelerated” stock buyback and raised its quarterly dividend by 20% following the termination of a merger deal with the hedge fund Standard General struck last year. Tegna executives also said they were “actively reviewing the return of additional excess capital that accumulated during the pending merger,” which faced a Monday financing deadline and got hung up in the regulatory review process. Shares rose 2.4% after hours.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.