TKO Group increases quarterly dividend 100% to 76c per share

TKO Group (TKO) announced that its board of directors has authorized a significant increase to its quarterly cash dividend program. TKO’s Class A common stockholders will now receive their pro rata share of an aggregate distribution of approximately $150M from TKO Operating Company to its equityholders, representing a 100% increase over the prior program. The per share dividend to the holders of TKO’s Class A common stockholders as declared by the board under the upsized dividend program will be 76c per share. The dividend will be paid on September 30 to Class A common stockholders of record as of the close of business on September 15. In addition, the company has concurrently launched a potential upsize of its existing credit facility by up to $1B, the consummation of which is subject to market conditions and customary closing conditions.