Questcor Pharmaceuticals Initiates $0.20 per Share Quarterly Cash Dividend; Expands Stock Repurchase Program
Questcor Pharmaceuticals (NASDAQ: QCOR) today announced that its Board of Directors has adopted a policy to pay a regular quarterly dividend in such amounts as the Board of Directors may determine from time to time. The Board of Directors has declared an initial quarterly cash dividend of $0.20 per share to all shareholders of record at the close of business on October 31, 2012. The initial dividend will be paid on or about November 15, 2012. Future dividends will be at the discretion of the Board of Directors.
Questcor also announced that its Board of Directors has increased the Company's common stock repurchase program to 7 million shares. This includes the 3.2 million shares that were remaining under the prior authorization. Repurchases under the program may be made in the open market or in privately negotiated transactions from time to time in compliance with Securities and Exchange Commission regulations, depending on market conditions and other factors.
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