Interpublic raises dividend, sets new stock buyback program

Interpublic Group of Companies said Friday it raised its quarterly dividend by 25% to 15 cents a share, from 12 cents a share. The new dividend will be payable March 15 to shareholders of record on March 1. The advertising company announced a new $300 million share repurchase program, with no expiration date. "These actions build on a sustained capital return program that IPG initiated in 2011," said Chief Executive Michael Roth. "Since that time, we have returned a total of $2.5 billion to shareholders through a combination of dividends and share repurchase, and reduced our outstanding shares eligible for dilution by over 25%." The stock, which was still inactive in premarket trade, has dropped 11% over the past three months, matching the decline in the S&P 500.

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