Omnicare Announces Additional Share Repurchase Authorization and Increase to Quarterly Cash Dividend by 75%
Omnicare, Inc. (NYSE: OCR), today announced that its board of directors has approved an additional $200 million of share repurchase authorization and a 75% increase to the quarterly cash dividend.
Omnicare's quarterly cash dividend was approved at $0.07 per share on its common stock, comparing favorably with the previous quarterly cash dividend rate of $0.04 per share. The dividend, which is payable on March 22, 2012 to stockholders of record on March 6, 2012, represents the third authorized increase to the Company's quarterly cash dividend within the past two years.
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