Sotheby’s Announces Stock Buyback Plan, Will Pay $300 Million in Special Dividend

January 30th, 2014

Sotheby's, via The Real DealSotheby’s auction house has released its capital allocation report this morning, with the announcement that it will pay out $300 million in dividends, as well as initiate a $150 million stock buyback plan, responding to investor pressure to shore up ownership in the company’s stock.  The company also announced its intent to sell its York Avenue headquarters, and has indicated attempts to add additional debt-financing to its loan department.  Read more at Art Market Monitor