Wolverine Worldwide has announced a 25 percent increase in the quarterly dividend and a new $400 million share repurchase program for the next four years. It has also disclosed some details of a new credit agreement announced on Dec. 6, which involved a new term loan of $200 million and a new revolving credit facility for $800 million, which is $200 million higher than the previous one. The new agreement will provide greater flexibility for future investments and extend the maturity date of the credit facilities to Dec. 6, 2023. The new capital structure provides about $1.5 billion in liquidities in addition to the company's significant cash flow.
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