Company: FOX
Filing Date: 2025-02-04
Form Type: 10-Q
Source: 0001628280-25-003592
Chunk: 18

Company: Fox Corp
Filing Date: 2025-02-04
Form: 10-Q
Item: Part I, Item 1
Chunk 18
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HOLDERS’ EQUITY

Stock Repurchase ProgramThe Company’s Board of Directors has authorized a stock repurchase program under which the Company can repurchase $7 billion of Class A Common Stock, par value $0.01 per share (the “Class A Common Stock”), and Class B Common Stock, par value $0.01 per share (the “Class B Common Stock”). The program has no time limit and may be modified, suspended or discontinued at any time.In total, the Company repurchased approximately 12 million shares of Class A Common Stock for approximately $500 million during the six months ended December 31, 2024.Repurchased shares are retired and reduce the number of shares issued and outstanding. The Company allocates the amount of the repurchase price over par value between additional paid-in capital and retained earnings.As of December 31, 2024, the Company’s remaining stock repurchase authorization was approximately $900 million. Subsequent to December 31, 2024, the Company repurchased approximately 1 million shares of Class A Common Stock for approximately $50 million.

9

FOX CORPORATIONNOTES TO THE UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

DividendsThe following table summarizes the dividends declared per share on both the Company’s Class A Common Stock and Class B Common Stock:For the three months ended December 31,For the six months ended December 31,2024202320242023Cash dividend per share$— $— $0.27 $0.26 Subsequent to December 31, 2024 the Company declared a semi-annual dividend of $0.27 per share on both the Class A Common Stock and the Class B Common Stock. The dividend declared is payable on March 26, 2025 with a record date for determining dividend entitlements of March 5, 2025.

NOTE 7. EQUITY-BASED COMPENSATION

The Company has equity-based compensation plans, including the Fox Corporation 2019 Shareholder Alignment Plan (See Note 12—Equity-Based Compensation in the 2024 Form 10-K).The following table summarizes the Company’s equity-based compensation:For the three months ended December 31,For the six months ended December 31,2024202320242023(in millions)Equity-based compensation$34 $24 $68 $48 Intrinsic value of all settled equity-based awards$25 $7 $103