Herbalife Ends Dividend To Focus On Buybacks

Apr 29 2014 | 12:44pm ET

Herbalife is taking steps to rain on Pershing Square Capital Management’s red-carpet parade this week.

The nutritional supplements company, which the William Ackman-led hedge fund says is a pyramid scheme, announced yesterday that it would suspend its annual dividend and use the money to aggressively buy back stock. The move comes days before Ackman plans to premiere a documentary about the company, featuring former distributors who allege they were defrauded by Los Angeles-based Herbalife.

Herbalife also said its adjusted net income hit a record in the first quarter. But it said it took a major loss due to Venezuela’s currency devaluation, cutting its first-quarter profit by 37%.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Rastegar: PE Real Estate Gains Momentum as Uncertainty Rises

Jul 21 2017 | 6:04pm ET

The steady march of equity markets and fundamental shift in the direction of Fed...

 
Error

FINalternatives Trending

From the current issue of