Cardinal Health approves $750M stock buyback
Health care products distributor Cardinal Health Inc. said Wednesday it authorized the repurchase of up to $750 million in stock.
The authorization allows the company to buy back stock at any time through Nov. 30, 2013. Cardinal Health said it bought back $250 million in stock during July and August, completing a $500 million stock buyback. The company also declared a quarterly dividend of 19.5 cents. The dividend is payable Jan. 15 to shareholders of record Jan. 1.
Cardinal Health also said that based on preliminary results from its annual shareholder meeting, it appears all 12 members of the company's board of directors have been re-elected to new terms.