India, Jan. 18 -- Professional services company Jacobs Engineering Group Inc. (JEC) announced late Thursday that its Board of Directors has approved a $1 billion incremental share repurchase authorization and a 13 percent increase to its quarterly dividend rate.
Since December 2018, the company has repurchased approximately $184 million of the remaining $247 million authorization and is continuing to make repurchases under its previously approved plan. The company's announced $1 billion share repurchase program has a 3-year maximum authorized duration.
Additionally, the Board increased the quarterly cash dividend payable to shareholders to $0.17 per share, up from its previous quarterly dividend of $0.15. This dividend will be paid on Mar...