CVS Caremark Corporation
CVS today announced that its Board of Directors has approved a new
share repurchase program for up to $6.0 billion of the company's outstanding
common stock. The share repurchase authorization, which is effective
immediately, permits the company to effect the repurchases from time to time
through a combination of open market repurchases, privately negotiated
transactions, accelerated share repurchase transactions, and/or other
derivative transactions.
The Company also stated that this new share repurchase program is expected to
be completed over a multi-year period. The Company intends to provide 2013
guidance and to outline its capital allocation strategy during its upcoming
Analyst Day, to be held on December 13, 2012. At that time, the Company will
provide its assumption for the amount of share repurchases expected to be
completed during 2013.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in