This article is more than 5 years old. Information may no longer be current.
Zimmer initiates quarterly dividend and new share repurchase program
Click Here to Manage Email Alerts
Zimmer Holdings Inc. announced its board of directors has approved the payment of a quarterly cash dividend to stockholders for the first quarter of 2012, according to a company news release. They have also authorized a new share repurchase program.
“The opportunity to initiate a quarterly dividend results from our rigorous financial and operational discipline and reinforces our confidence in the company’s future and our commitment to generating value for stockholders,” David Dvorak, Zimmer president and chief executive officer, stated in the release.
The initial quarterly cash dividend of $0.18 per share will be paid on or around April 27, 2012 to the stockholders of record as of the close of business on March 30, 2012. Future declarations of dividends are subject to approval of the Board of Directors and may be adjusted as business needs or market conditions change.
The new share repurchase program authorizes purchases of up to $1.5 billion of the company’s common stock through Dec. 31, 2014. No further purchases will be made under the earlier program, which authorized purchases through Dec. 31, 2013.