Brief: Madison Square Garden Sports Announces Plan To Return Approximately $250 Mln To Shareholders

MSG Knickerbockers

06/10/2022 22:42

Oct 6 (Reuters) - Madison Square Garden Sports Corp
 MSGS.N :
    * MADISON SQUARE GARDEN SPORTS CORP. ANNOUNCES PLAN TO
RETURN
APPROXIMATELY $250 MILLION TO SHAREHOLDERS
    * MADISON SQUARE GARDEN SPORTS CORP- BOARD HAS DECLARED A
SPECIAL,
ONE-TIME CASH DIVIDEND OF ABOUT $175 MILLION, OR $7.00 PER SHARE
    * MADISON SQUARE GARDEN SPORTS CORP- IN ADDITION, CO'S BOARD
HAS
AUTHORIZED A $75 MILLION ACCELERATED SHARE REPURCHASE PROGRAM
    * MADISON SQUARE- EXPECTS TO FUND SPECIAL, ONE-TIME
DIVIDEND,ASR
PROGRAM THROUGH BORROWINGS UNDER EXISTING NEW YORK RANGERS
REVOLVING CREDIT FACILITY
    * MADISON SQUARE- EXPECTS TO FUND SPECIAL, ONE-TIME
DIVIDEND,ASR
PROGRAM THROUGH BORROWINGS UNDER EXISTING NEW YORK KNICKS
REVOLVING CREDIT FACILITY
    * MADISON SQUARE GARDEN SPORTS CORP- CO INTENDS TO ENTER
INTO AN
ASR AGREEMENT AFTER CO REPORTS FINANCIAL RESULTS FOR FISCAL 2023
Q1
    * MADISON SQUARE- EXPECTS TO FUND SPECIAL, ONE-TIME
DIVIDEND,ASR
PROGRAM THROUGH CASH ON HAND

Source text for Eikon:  ID:nBw4Dm6h4a 
Further company coverage:  MSGS.N 
 ((Reuters.Briefs@thomsonreuters.com;))