Navigation Links
CVS Caremark Corporation Announces New Share Repurchase Authorization for up to $6 Billion of Common Stock
Date:9/19/2012

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: http://photos.prnewswire.com/prnh/20090226/NE75914LOGO )

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 info.cvscaremark.com.

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:
*Name:
*Comment:
*Email:
(Date:2/20/2017)... , February 20, 2017 According to a new ... Suspension, Dry powder), Device Type (Metered dose, Dry Powder, Nebulizer)), Canister (Plain, ... by MarketsandMarkets, The market is projected to reach USD 52.37 Billion by ... during the forecast period. Continue Reading ... ...
(Date:2/20/2017)...   Alberty   Drugs , a ... has announced a significant shift in focus by ... to servicing local Veteran Affairs Centers (VA) and other ... increased need to secure cost effective treatments for their ... for their goods & services. "The opportunity ...
(Date:2/20/2017)... , February 20, 2017 Acute, Chronic and ... expected to grow at a CAGR of 7% from 2016-2021 and CAGR ... CAGR of 6% from 2016 to 2027. The market is estimated at ... ... Read on to discover how you can exploit the future business opportunities ...
Breaking Medicine Technology:
(Date:2/20/2017)... ... February 20, 2017 , ... ... to purchase a new ultrasound-enhanced thrombolysis machine, a state-of-the-art device that breaks up ... facilitated by the Pepin Family Foundation. , “We greatly appreciate this gift from ...
(Date:2/19/2017)... ... February 19, 2017 , ... Orbita, ... join forces with Healthwise ® at HIMSS 2017 to showcase ... in evidence-based health education, technology and services, will demonstrate a voice-powered knowedge assistant ...
(Date:2/18/2017)... ... February 17, 2017 , ... Park Cities Pet Sitter President, Joette ... the Pet Life Radio network. The episode, which was posted this week, features ... what factors led to Park Cities Pet Sitter’s being awarded the 2017 National Association ...
(Date:2/17/2017)... , ... February 17, 2017 , ... ... foundational and sustainable systems change designed to further positively impact the health and ... of Trustees has long considered it our duty to seriously consider releasing our ...
(Date:2/17/2017)... ... February 17, 2017 , ... Corrective Action ... Letter, **An FDAnews Webinar**, Feb. 23, 2017 — 1:30 p.m. – 3:00 p.m. ... action (CA) and preventive action (PA)? , The methods share techniques and tools ...
Breaking Medicine News(10 mins):