VALLEY FORGE, Pa.--(BUSINESS WIRE)--Nov. 12, 2009--
The Board of Directors of AmerisourceBergen Corporation (NYSE:ABC) today
increased the Company’s quarterly dividend rate 33 percent to $0.08 per
common share from $0.06 per common share. The Board of Directors also
authorized a new $500 million share repurchase program, effective
immediately. The Company will use the new program to repurchase its
outstanding shares of common stock, subject to market conditions.
R. David Yost, AmerisourceBergen President & Chief Executive Officer,
said, “We have again increased our dividend and authorized a new share
repurchase program, illustrating our continued confidence in delivering
long-term shareholder value.”
The new repurchase program, combined with $68.1 million remaining on the
November 13, 2008 repurchase program, provides AmerisourceBergen with
$568.1 million currently authorized for the repurchase of common shares.
AmerisourceBergen expects to spend approximately $350 million to
repurchase its common shares in fiscal year 2010. The Company currently
has approximately 288 million common shares outstanding.
AmerisourceBergen may repurchase its shares from time to time for cash
in open market transactions or by other means in accordance with
applicable federal securities laws, and will hold any repurchased shares
as treasury shares, which will be available for general corporate
purposes.
The quarterly dividend of $0.08 per common share will be payable
December 7, 2009, to stockholders of record at the close of business on
November 23, 2009.
About AmerisourceBergen
AmerisourceBergen is one of the world's largest pharmaceutical services
companies, with operations primarily in the United States and Canada.
Servicing both healthcare providers and pharmaceutical manufacturers in
the pharmaceutical supply channel, the Company provides drug
distribution and related services designed to reduce costs and improve
patient outcomes. AmerisourceBergen's service solutions range from
pharmacy automation and pharmaceutical packaging to reimbursement and
pharmaceutical consulting services. With more than $71 billion in annual
revenue, AmerisourceBergen is headquartered in Valley Forge, PA, and
employs approximately 10,000 people. AmerisourceBergen is ranked #26 on
the Fortune 500 list. For more information, go to www.amerisourcebergen.com.
Forward-Looking Statements
This news release contains forward-looking statements about
AmerisourceBergen’s future business and financial performance, estimates
and prospects. These statements are based on management’s current
expectations and are subject to uncertainty and changes in
circumstances. Actual results may vary materially from the expectations
contained in the forward-looking statements. The following factors,
among others, could cause actual results to differ materially from those
described in any forward-looking statements: changes in pharmaceutical
market growth rates; the loss of one or more key customer or supplier
relationships; changes in customer mix; customer delinquencies, defaults
or insolvencies; supplier defaults or insolvencies; changes in
pharmaceutical manufacturers’ pricing and distribution policies or
practices; adverse resolution of any contract or other dispute with
customers or suppliers; federal and state government enforcement
initiatives to detect and prevent suspicious orders of controlled
substances and the diversion of controlled substances; qui tam
litigation for alleged violation of laws and regulations governing the
marketing, sale and purchase of pharmaceutical products; changes in U.S.
legislation or regulatory action affecting pharmaceutical product
pricing or reimbursement policies, including under Medicaid and
Medicare; changes in regulatory or clinical medical guidelines and/or
labeling for the pharmaceuticals we distribute, including certain anemia
products; price inflation in branded pharmaceuticals and price deflation
in generics; significant breakdown or interruption of our information
technology systems; our inability to implement an enterprise resource
planning (ERP) system to handle business and financial processes within
AmerisourceBergen Drug Corporation’s operations and our corporate
functions without operating problems and/or cost overruns; success of
integration, restructuring or systems initiatives; interest rate and
foreign currency exchange rate fluctuations; economic, business,
competitive and/or regulatory developments in Canada, the United Kingdom
and elsewhere outside of the United States, including potential changes
in Canadian provincial legislation affecting pharmaceutical product
pricing or service fees or regulatory action by provincial authorities
in Canada to lower pharmaceutical product pricing or service fees; the
impact of divestitures or the acquisition of businesses that do not
perform as we expect or that are difficult for us to integrate or
control; our inability to successfully complete any other transaction
that we may wish to pursue from time to time; changes in tax legislation
or adverse resolution of challenges to our tax positions; increased
costs of maintaining, or reductions in our ability to maintain, adequate
liquidity and financing sources; continued volatility, and further
deterioration of the capital and credit markets; and other economic,
business, competitive, legal, tax, regulatory and/or operational factors
affecting our business generally. Our most recent annual report
on Form 10-K, quarterly reports on Forms 10-Q and current reports 8-K
(which we may revise or supplement in future reports filed to the SEC)
provide additional information about these risks, uncertainties and
other matters. We do not undertake to update our forward-looking
statements.
Source: AmerisourceBergen Corporation
AmerisourceBergen Corporation
Michael N. Kilpatric,
610-727-7118
[email protected]