Henry Schein Raises Share Buyback Plan by $300M
Henry Schein (NASDAQ: HSIC) today announced that its Board of Directors has authorized the repurchase of up to $300 million of shares of the Company's common stock. This program is in addition to the $300 million repurchase program announced in November 2012, which as of today has approximately $12.3 million remaining authorized for future repurchases.
The Company had approximately 86 million shares outstanding as of September 28, 2013, and this new authorization represents approximately three percent of shares outstanding at the current stock price. Purchases may be made from time to time in the open market, or through negotiated transactions.
"Henry Schein's share repurchase program demonstrates our long-term commitment to increasing shareholder value," said Stanley M. Bergman, Chairman of the Board and Chief Executive Officer of Henry Schein. "Our strong balance sheet provides us with the financial flexibility to return capital to shareholders while continuing to invest in our business and maintaining our ability to capitalize on our growth opportunities."
About Henry Schein, Inc.
Henry Schein, Inc. is the world's largest provider of health care products and