Amgen AMGN
announced that its Board of Directors today declared a $0.47 per share
dividend for the first quarter of 2013. The dividend will be paid on March 7,
2013, to all stockholders of record as of the close of business on Feb. 13,
2013. This represents an approximate 31 percent increase from that paid in
each of the previous four quarters. Amgen's Board of Directors also approved
an increase in share repurchase authorization in the amount of $2 billion.
This amount is in addition to approximately $0.5 billion remaining under the
previously announced $10 billion share repurchase program. Amgen expects that
the increase in repurchase authorization being announced today will cover the
company's share repurchase activity into 2014. The company expects to fund
these additional share repurchases and the dividend with U.S. cash on hand and
U.S. free cash flow.
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