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Bulletin: CA Technologies Ratings Unaffected By Announced $2.5 Billion Capital Allocation Program Jan 12
Standard & Poors, Jan 2012
Abstract
NEW YORK (Standard & Poor's) January 25, 2012--Standard & Poor's Ratings Services said today that its ratings and outlook on Islandia, N.Y. based CA Technologies (BBB+/Stable/--) remain unchanged following the announcement that CA Technologies plans to return $2.5 billion to shareholders through 2014 by: Increasing the annual dividend rate from $0.20 to $1 per share; and Increasing its share repurchase authorization to $1.5 billion through 2014, including an accelerated repurchase of up to $500 million. We expect that CA will fund these actions primarily from its strong cash balances (about $2.5 billion on Dec. 31, 2011--more than half residing outside of the U.S.) and robust free cash flow (averaging more than $1.2 billion annually over the past three years). The...
Companies mentioned in this report are: CA Technologies
Action: Bulletin
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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