TransDigm asks lenders to allow possible dividend
Wednesday - 10/3/2012, 2:11pm EDT
CLEVELAND (AP) - TransDigm Group Inc. said Wednesday it has asked lenders to increase its credit facility so that it can pay its shareholders a special dividend.
The Cleveland-based aircraft parts maker said it is considering paying between $400 and $850 million to shareholders before the end of the year, using funds from the possible new debt financing.
TransDigm shares rose $1.55, or 1.1 percent, to $143.63 in afternoon trading.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
