VALLEY FORGE, Pa.--(BUSINESS WIRE)--Nov. 8, 2007--The Board of
Directors of AmerisourceBergen Corporation (NYSE:ABC) today increased
the Company's quarterly dividend rate 50 percent to $0.075 per common
share from $0.05 per common share. The Board of Directors also
authorized a $500 million increase in its existing $850 million share
repurchase program, which allows the Company to repurchase its
outstanding shares of common stock subject to market conditions.
R. David Yost, AmerisourceBergen President & Chief Executive
Officer, said, "Increasing our dividend and share repurchase program
demonstrates continued confidence in our performance and our
disciplined use of cash to deliver long-term value to our
shareholders."
As of November 7, 2007, the Company had approximately $89 million
remaining under the original $850 million share repurchase program,
which was authorized on May 24, 2007. With the $500 million increase,
the Company now has approximately $589 million remaining under its
existing share repurchase program. AmerisourceBergen currently has 167
million common shares outstanding.
The Company may repurchase the 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 $0.075 per common share will be payable
December 3, 2007, to stockholders of record at the close of business
on November 19, 2007.
About AmerisourceBergen
AmerisourceBergen is one of the world's largest pharmaceutical
services companies serving the United States, Canada and selected
global markets. Servicing both pharmaceutical manufacturers and
healthcare providers 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 $66 billion in annual revenue, AmerisourceBergen is headquartered
in Valley Forge, PA, and employs more than 11,500 people.
AmerisourceBergen is ranked #29 on the Fortune 500 list. For more
information, go to www.amerisourcebergen.com.
Forward-Looking Statements
This news release may contain certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. 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: competitive pressures; the loss of one or
more key customer or supplier relationships; customer defaults or
insolvencies; changes in customer mix; supplier defaults or
insolvencies; changes in pharmaceutical manufacturers' pricing and
distribution policies or practices; adverse resolution of any contract
or other disputes with customers (including departments and agencies
of the U.S. Government) or suppliers; regulatory changes (including
increased government regulation of the pharmaceutical supply channel);
government enforcement initiatives (including (i) the imposition of
increased obligations upon pharmaceutical distributors to detect and
prevent suspicious orders of controlled substances (ii) the
commencement of further administrative actions by the U. S. Drug
Enforcement Administration seeking to suspend or revoke the license of
any of the Company's distribution facilities to distribute controlled
substances, or (iii) the commencement of any enforcement actions by
any U.S. Attorney alleging violation of laws and regulations regarding
diversion of controlled substances and suspicious order monitoring);
changes in U.S. government policies (including reimbursement changes
arising from federal legislation, including the Medicare Modernization
Act and the Deficit Reduction Act of 2005); changes in regulatory or
clinical medical guidelines and/or reimbursement practices for the
pharmaceuticals we distribute, including erythropoiesis-stimulating
agents (ESAs) used to treat anemia patients; price inflation in
branded pharmaceuticals and price deflation in generics; the inability
of the Company to successfully complete any transaction that the
Company may wish to pursue from time to time; fluctuations in market
interest rates; operational or control issues arising from the
Company's outsourcing of information technology activities; success of
integration, restructuring or systems initiatives; fluctuations in the
U.S. dollar - Canadian dollar exchange rate and other foreign exchange
rates; economic, business, competitive and/or regulatory developments
in Canada, the United Kingdom and elsewhere outside of the United
States; acquisition of businesses that do not perform as we expect or
that are difficult for us to integrate or control; changes in tax
legislation or adverse resolution of challenges to our tax positions;
and other economic, business, competitive, legal, tax, regulatory
and/or operational factors affecting the business of the Company
generally. Certain additional factors that management believes could
cause actual outcomes and results to differ materially from those
described in forward-looking statements are set forth (i) in Item 1A
(Risk Factors) in the Company's Annual Report on Form 10-K for the
fiscal year ended September 30, 2006 and elsewhere in that report and
(ii) in other reports filed by the Company pursuant to the Securities
Exchange Act of 1934.
CONTACT: AmerisourceBergen Corporation
Michael N. Kilpatric, 610-727-7118
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation