Abbott Announces New $3 Billion Share Repurchase Program, Declares Dividend
ABBOTT PARK, Ill., June 14, 2013
ABBOTT PARK, Ill., June 14, 2013 /PRNewswire/ -- Abbott's (NYSE: ABT) board of
directors has approved a new share repurchase program and declared a quarterly
Abbott's board has authorized the repurchase of up to $3 billion of the
corporation's common stock. The program replaces the previous $5 billion
program that was announced in October 2008 and was recently completed. The
purchases may be made from time to time as market conditions warrant and
subject to regulatory considerations.
The board also declared a quarterly common dividend of 14 cents per share.
This marks the 358^th consecutive quarterly dividend to be paid by Abbott
since 1924. The cash dividend is payable August 15, 2013, to shareholders of
record at the close of business on July 15, 2013.
Abbott's strong cash flow has enabled it to invest in its business and return
cash to shareholders through dividends and share repurchases. Abbott has a
long history of returning value to shareholders, and since 2002, the company
has delivered $31 billion in cash to its shareholders through dividends and
Abbott has increased its dividend payout for 41 consecutive years and is a
member of the S&P 500 Dividend Aristocrats Index, which tracks companies that
have annually increased their dividend for 25 consecutive years.
Abbott is a global healthcare company devoted to improving life through the
development of products and technologies that span the breadth of healthcare.
With a portfolio of leading, science-based offerings in diagnostics, medical
devices, nutritionals and branded generic pharmaceuticals, Abbott serves
people in more than 150 countries and employs approximately 70,000 people.
Visit Abbott at www.abbott.com and connect with us on Twitter at @AbbottNews.
– Private Securities Litigation Reform Act of 1995 –
A Caution Concerning Forward-Looking Statements
Some statements in this news release may be forward-looking statements for
purposes of the Private Securities Litigation Reform Act of 1995. Abbott
cautions that these forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially from those
indicated in the forward-looking statements. Economic, competitive,
governmental, technological and other factors that may affect Abbott's
operations are discussed in Item1A, "Risk Factors," to our Annual Report on
Securities and Exchange Commission Form10-K/A for the year ended Dec. 31,
2012, and are incorporated by reference. Abbott undertakes no obligation to
release publicly any revisions to forward-looking statements as a result of
subsequent events or developments, except as required by law.
Contact: Media: Angela Duff, (847) 938-6894, or Financial: Brian Yoor, (847)
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