Federal Signal Reinstates Dividend, Announces Buyback - Quick Facts

(RTTNews) - The Board of Directors of Federal Signal Corp. (FSS) reinstated its quarterly cash dividend by declaring a dividend of three cents per share on its common stock. The dividend is payable on June 3 to holders of record at the close of business on May 13. The stock is gaining over 4 percent in pre-market activity.

The company also announced that its Board of Directors has authorized a share repurchase program of up to $15 million of the company's common stock.

The program is intended primarily to facilitate a reduction in the allocation of investment to company stock within the company's U.S. defined benefit pension plan portfolio and to reduce dilution resulting from issuances of stock under the employee equity incentive programs.

FSS, which closed down 4.3 percent at $15.10 on Tuesday, is advancing 4.4 percent in pre-market trading.