Western Union board of directors raises dividend, sets $1 billion buyback plan

Western Union board raises dividend

ENGLEWOOD, Colo. — Western Union Co. said Wednesday its board of directors boosted the company’s annual dividend six-fold and authorized a $1 billion stock buyback plan.

The company said the dividend is now 24 cents per share for the year, or 6 cents per share per quarter, up from 4 cents per share for the year.

A quarterly dividend of 6 cents per share is payable Dec. 30 to shareholders of record as of Dec. 21.

Shares of Western Union rose 64 cents, or 3.5 percent, to $18.73 in after-hours trading after rising 14 cents to close at $18.19 during the regular trading session Wednesday.