Quest Diagnostics Increases Quarterly Cash Dividend by 70% to $0.17/Share

Quest Diagnostics Incorporated DGX today announced that its Board of Directors has increased the quarterly cash dividend to $0.17 per share, payable on January 24, 2012, to shareholders of record of Quest Diagnostics common stock on January 9, 2012. The dividend represents a 70% increase from the current $0.10 per share level. "This increase in our dividend demonstrates confidence in our continued ability to generate strong cash flow," said Surya N. Mohapatra, Ph.D., Chairman and Chief Executive Officer. "With key capabilities in place to drive long-term growth, we do not see large acquisitions in the next few years. Instead, our focus is on improving operating performance and integrating businesses we have acquired. As a result, we plan to return a majority of our future cash flow to shareholders through a combination of dividends and share repurchases."