Jaguar Communications Ltd.
said Wednesday it would pay a record $1.9 billion dividend to shareholders, more than doubling the amount it paid last year.
The company said the dividend is in addition to $1 billion it already paid to shareholders last year and $1,500 million it had paid to its stockholders in 2015.
The company has been a pioneer in using debt to finance new technology.
The dividend is expected to pay out in 2019, 2020 and 2021, but the timing of when the payout will be announced remains to be seen.
Jaguar said the payout is expected “at a time when we are seeing a rapid increase in demand for the company’s products and services,” including new applications for its Jaguar XC90 SUV, the Jaguar XE SUV, Jaguar XJ, Jaguar CX and Jaguar XK.
The move comes after a decade of strong revenue growth and a strong outlook for its new communications equipment business.
Jaguar has a $1 trillion cash pile, which includes about $1 million of debt.
The dividend is a record for Jaguar.
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