Market Overview

Omnicare Increases Quarterly Dividend 43% to $0.20/Share, Increases Share Buyback Authorization by $500M

Omnicare (NYSE: OCR), today announced an additional share repurchase program and a sizeable increase to its quarterly dividend, reflecting the Company's continued focus on returning capital to its stockholders. Omnicare's board of directors authorized the Company to repurchase an additional $500 million of outstanding shares of its common stock from time to time through December 31, 2015.  Year to date, Omnicare has repurchased 4.2 million shares for an aggregate purchase price of $220 million. In addition, the Company's board of directors approved a quarterly cash dividend of $0.20 per share on the Company's common stock, to be paid on December 24, 2013, to all shareholders of record on December 16, 2013.  The new quarterly dividend represents a 43 percent increase over the previous amount of $0.14 per share. "Returning capital to stockholders is an important element of our capital allocation strategy," said John Workman, Omnicare's Chief Executive Officer.  "With these substantial increases to both our share repurchase program and quarterly cash dividend, we are better

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Posted-In: News Guidance Dividends Offerings Buybacks Management Global

 

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