Navigation Links
Wyeth Announces $5 Billion Share Repurchase Program; Declares Increase in Common Stock Dividend
Date:9/27/2007

MADISON, N.J., Sept. 27 /PRNewswire-FirstCall/ -- Wyeth (NYSE: WYE) announced that, at a meeting today, its Board of Directors approved an increase to the Company's previously authorized share repurchase program that authorizes the Company to buy back up to $5 billion of the Company's common stock. This is inclusive of approximately $1.2 billion in repurchases already executed during 2007. The repurchase program has no time limit and may be suspended for periods or discontinued at any time. The Company intends to fund the share repurchase program with cash from operations.

Also at today's meeting, a dividend of twenty-eight cents ($.28) per share on the outstanding shares of common stock was declared payable on December 3, 2007 to stockholders of record at the close of business on November 13, 2007. This quarterly rate represents a 7.7% increase per share from the previous quarter ($.26).

The expanded share repurchase program and the dividend increase are a reflection of the strengthening of Wyeth's cash position, resulting from strong operating cash flow and receding diet drug litigation payments, as well as management's confidence in both the short and long-term growth prospects for the Company. Wyeth's goal is to maintain financial flexibility to allow for future growth opportunities while also providing value to its shareholders. The Company looks forward to discussing its share repurchase program and dividend increase on its 2007 third quarter earnings conference call scheduled for October 18, 2007.

Wyeth is one of the world's largest research-driven pharmaceutical and health care products companies. It is a leader in the discovery, development, manufacturing and marketing of pharmaceuticals, vaccines, biotechnology products and non-prescription medicines that improve the quality of life for people worldwide. The Company's major divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort Dodge Animal Health.


'/>"/>
SOURCE Wyeth
Copyright©2007 PR Newswire.
All rights reserved

Related biology technology :

1. Speaker announces business members of IT Task Force
2. Doyle announces technology tax credits for Berbee
3. Doyle announces new energy, global warming policies
4. Doyle announces $80M renewable energy strategy
5. GE announces first installation of Discovery VCT
6. UWM announces winners of RGI awards
7. Third Wave announces two senior management appointments
8. Mirus announces new method for making antibodies
9. Merge announces sofware updates, upcoming acquisition
10. Small Tree announces ethernet solution for Apple Xserv G5
11. TEKLYNX International announces new RFID software
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... ... October 12, 2017 , ... The Blavatnik Family ... and six Finalists of the 2017 Blavatnik Regional Awards for Young Scientists. ... and administered by the New York Academy of Sciences to honor the excellence ...
(Date:10/12/2017)... ... October 12, 2017 , ... AMRI, a global contract ... to improve patient outcomes and quality of life, will now be offering its ... attributed to new regulatory requirements for all new drug products, including the finalization ...
(Date:10/11/2017)... Wayne. NJ (PRWEB) , ... October 11, 2017 , ... Personal eye wash is a ... rinse one eye at a time. So which eye do you rinse first if a ... you have Plum Duo Eye Wash with its unique dual eye piece. , ...
(Date:10/11/2017)... LAGUNA HILLS, Calif. , Oct. 11, 2017 ... London (ICR) and University of ... prognostic tool to risk-stratify patients with multiple myeloma (MM), in ... nine . The University of Leeds ... by Myeloma UK, and ICR will perform the testing services ...
Breaking Biology Technology:
(Date:4/11/2017)... N.Y. , April 11, 2017 ... fingerprints, but researchers at the New York University ... College of Engineering have found that partial similarities ... security systems used in mobile phones and other ... thought. The vulnerability lies in the ...
(Date:4/5/2017)... 2017 KEY FINDINGS The global ... a CAGR of 25.76% during the forecast period of ... factor for the growth of the stem cell market. ... MARKET INSIGHTS The global stem cell market is ... geography. The stem cell market of the product is ...
(Date:3/30/2017)... NEW YORK , March 30, 2017 ... by type (physiological and behavioral), by technology (fingerprint, AFIS, ... recognition, voice recognition, and others), by end use industry ... travel and immigration, financial and banking, and others), and ... Europe , Asia Pacific ...
Breaking Biology News(10 mins):