The Board of Directors of AmerisourceBergen Corporation (NYSE: ABC)
today authorized a new $750 million share repurchase program, effective
immediately. The Company has completed its previous $750 million share
repurchase program, which was authorized on August 11, 2011.
AmerisourceBergen expects to use the new program to repurchase its
outstanding shares of common stock, subject to market conditions. To
date in fiscal year 2012, which ends September 30, 2012, the Company has
spent $500.0 million to repurchase its outstanding shares of common
“Our $500 million in share repurchases during this fiscal year and our
new share repurchase program demonstrate our continued commitment to
delivering long-term shareholder value,” said Steven H. Collis,
AmerisourceBergen President & Chief Executive Officer.
AmerisourceBergen may repurchase its shares from time to time for cash
in open market transactions or by other means in accordance with
applicable federal securities laws. The Company currently has
approximately 250.8 million common shares outstanding, and had
previously said it expected to repurchase $500 million of its shares in
In addition, the Board of Directors today declared a cash dividend of
$0.13 per share on Common Stock, payable June 4, 2012, to stockholders
of record at the close of business on May 21, 2012.
AmerisourceBergen is one of the world's largest pharmaceutical services
companies serving the United States, Canada and selected global markets.
Servicing both healthcare providers and pharmaceutical manufacturers in
the pharmaceutical supply channel, the Company provides drug
distribution and related services designed to reduce costs and improve
patient outcomes. AmerisourceBergen's service solutions range from niche
premium logistics and pharmaceutical packaging to reimbursement and
pharmaceutical consulting services. With more than $80 billion in annual
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs approximately 13,000 people. AmerisourceBergen is ranked #29 on
the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
Certain of the statements contained in this press release are
"forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of