Navigation Links
CVS Caremark Corporation Announces New Share Repurchase Authorization for up to $6 Billion of Common Stock

WOONSOCKET, R.I., Sept. 19, 2012 /PRNewswire/ -- CVS Caremark Corporation (NYSE: CVS) today announced that its Board of Directors has approved a new share repurchase program for up to $6.0 billion of the company's outstanding common stock. The share repurchase authorization, which is effective immediately, permits the company to effect the repurchases from time to time through a combination of open market repurchases, privately negotiated transactions, accelerated share repurchase transactions, and/or other derivative transactions.

(Logo: )

The Company also stated that this new share repurchase program is expected to be completed over a multi-year period. The Company intends to provide 2013 guidance and to outline its capital allocation strategy during its upcoming Analyst Day, to be held on December 13, 2012.  At that time, the Company will provide its assumption for the amount of share repurchases expected to be completed during 2013.

Dave Denton, executive vice president and chief financial officer of CVS Caremark, stated, "We're very pleased with the Board's decision to approve this new share repurchase program and believe it reflects their confidence in CVS Caremark's growth outlook as well as an ongoing commitment to create shareholder value. We have a highly disciplined approach to capital allocation and we are committed to using our strong free cash flow to fund investments that drive returns in addition to dividends and value-enhancing share repurchases."

CVS Caremark also announced today that its Board of Directors has approved a quarterly dividend of $0.1625 (16.25 cents) per share on the Common Stock of the Corporation, payable November 2, 2012, to holders of record on October 22, 2012.

About CVS Caremark
CVS Caremark is dedicated to helping people on their path to better health as the largest integrated pharmacy company in the United States. Through the company's approximately 7,400 CVS/pharmacy stores; its leading pharmacy benefit manager serving more than 60 million plan members; and its retail health clinic system, the largest in the nation with approximately 600 MinuteClinic locations, it is a market leader in mail order, retail and specialty pharmacy, retail clinics, and Medicare Part D Prescription Drug Plans.  As a pharmacy innovation company with an unmatched breadth of capabilities, CVS Caremark continually strives to improve health and lower costs by developing new approaches such as its unique Pharmacy Advisor program that helps people with chronic diseases, such as diabetes, obtain and stay on their medications.  Find more information about how CVS Caremark is reinventing pharmacy for better health at

Forward-Looking Statements
This press release contains certain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company strongly recommends that you become familiar with the specific risks and uncertainties outlined under the Risk Factors section in our Annual Report on Form 10-K for the year ended December 31, 2011 and under the section entitled "Cautionary Statement Concerning Forward-Looking Statements" in our most recently filed Quarterly Report on Form 10-Q.

There can be no assurance as to the amount, timing or prices of repurchases. The specific timing and amount of repurchases will vary based on market conditions and other factors. The share repurchase program may be modified, extended or terminated by the board of directors at any time.

SOURCE CVS Caremark Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. CVS Caremark to Present at Morgan Stanley Global Healthcare Conference
2. CVS Caremark To Present At Goldman Sachs 2012 Global Retailing Conference
3. CVS Caremark Charitable Trust Partners with National Association of Community Health Centers to Create Innovative Grant Program Focused on Managing Chronic Disease
4. CVS Caremark Research Identifies Positive Link Between Medication Adherence and Employee Productivity
5. CVS Caremark Sponsored Research Finds FDA Drug Warnings Can Have Immediate Negative Impact on Medication Adherence, Even if Not Related to Safety
6. CVS Caremark Reports Record First Quarter Results
7. CVS Caremark Corporation to Hold First Quarter 2012 Conference Call
8. Comprehensive Care Corporation Signs Agreement With WellDyneRx as Part of CompCares New Pharmacy Savings Center Program
9. Heska Corporation Announces Amendment To Its Odd-Lot Tender Offer
10. Gentris Corporation Expands Headquarters, Biorepository
11. Luminex Corporation To Present At Upcoming Investment Conferences In September
Post Your Comments:
(Date:12/1/2015)... Russia has always been a ... new drugs registered in Europe in 2015 were ... Russia has always been a country of choice ... in Europe in 2015 were tested in phase ... Russia has always been a country of choice for global ...
(Date:12/1/2015)... , Dec. 1, 2015 CytRx Corporation (NASDAQ: ... specializing in oncology, today announced that it has reached ... pivotal global Phase 3 clinical trial of aldoxorubicin in ... originally estimated to be completed in Q1 2016. The Phase ... under a Special Protocol Assessment from the FDA at ...
(Date:12/1/2015)... 1, 2015  The migration to value-based care ... care plans that help patients stay healthy and ... be digitally enabled, incorporate care guidelines and be ... They will also allow all stakeholders to collaborate ... is optimal. That is the vision, however, research ...
Breaking Medicine Technology:
(Date:12/1/2015)... (PRWEB) , ... December 02, 2015 , ... Ruth Pearson ... brutal lupus flare-up. Unable to walk without assistance and quickly losing hope of recovering ... then a miracle happened. , Pearson was attending a women’s retreat when she experienced ...
(Date:12/1/2015)... ... December 01, 2015 , ... The Multiple System Atrophy Coalition ... funds for Multiple System Atrophy (MSA) research, timed today to coincide with Giving Tuesday ... from patients including their ability to work and be productive, to do simple daily ...
(Date:12/1/2015)... , ... December 01, 2015 , ... Royal River Natural ... new study that found post-menopausal women who took the nutritional supplement creatine, along with ... who trained but did not take creatine. , The report is part of the ...
(Date:12/1/2015)... , ... December 01, 2015 , ... ... leadless pacemakers in the U.S. and is the only hospital in the region ... largest clinical data presentation of transcatheter pacing patients were revealed recently at a ...
(Date:12/1/2015)... ... 01, 2015 , ... December 1, 2015 -- InstantLabs is ... growing product line of food safety and seafood fraud prevention tools. , The ... allow InstantLabs to offer fast, reliable species identification for the four most popular ...
Breaking Medicine News(10 mins):