Booz Allen eyes $1bn dividend

City A.M. Reporter
GOVERNMENT consultancy firm Booz Allen Hamilton said yesterday that it was exploring a proposal to refinance its debt that could result in a special dividend of about $1bn to its shareholders.

Booz Allen, which provides management and technology consulting in defence, intelligence and civil markets, said it was evaluating possible refinancing of about $959m of debt under new credit facilities of up to $1.75bn.

The proceeds from the refinancing, along with cash on hand, will be used to fund the special dividend, Booz Allen said. The special dividend would amount to about $7.55 per share, based on the number of shares outstanding.