Dec 6 Satellite radio company Sirius XM Radio
Inc said its board approved a $2 billion common stock
Liberty Media Corp, which owns about 49.8 percent
of Sirius' stock, said it will participate in the company's
share repurchases on a pro rata basis so that its relative
ownership interest will not be affected by the program.
Sirius also declared a special cash dividend of 5 cents per
share of common stock, payable on Dec. 28 to shareholders as of
Dec. 18's close. The company expects to pay a total of about
$325 million in cash dividends.
Sirius' shares were up about 3 percent at $2.86 in
pre-market trading on Thursday. They closed at $2.77 on
Wednesday on the Nasdaq.