Bristol-Myers
Squibb Company (NYSE: BMY) today announced its Board of Directors
increased by $3 billion its authorization for the repurchase of the
Company’s common stock. This adds to the current, active $3
billion-repurchase program, announced in May 2010, under which the
Company has approximately $340 million remaining. This brings the total
authorized to approximately $6 billion, of which approximately $3.34
billion remains to be used for future repurchases.
The decision reflects the Company’s strong financial position and its
balanced approach to capital allocation, including a commitment to its
dividend and a disciplined approach to business development.
The stock repurchase program does not have an expiration date and is
expected to take place over the next couple years. The repurchases may
be made either in the open market or through private transactions. The
program may be suspended or discontinued at any time.
While executing the stock repurchase program, the Company will remain
committed to retaining the financial strength and flexibility it needs
to support its dividend, position the company for long term success and,
continue its focus on business development.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission
is to discover, develop and deliver innovative medicines that help
patients prevail over serious diseases. For more information, please
visit www.bms.com
or follow us on Twitter at http://twitter.com/bmsnews.
