VALLEY FORGE, Pa.--(BUSINESS WIRE)--Nov. 13, 2008--The Board of
Directors of AmerisourceBergen Corporation (NYSE:ABC) today increased
the Company's quarterly dividend rate 33 percent to $0.10 per common
share from $0.075 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, "Increasing our dividend and authorizing a new share
repurchase program illustrates our confidence in delivering long-term
shareholder value."
On November 12, 2008, the Company completed the previous share
repurchase program, which was authorized on May 24, 2007.
AmerisourceBergen said it expects to spend approximately $350 million
to repurchase its common shares in fiscal year 2009. The Company
currently has approximately 156 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 $0.10 per common share will be payable
December 8, 2008, to stockholders of record at the close of business
on November 24, 2008.
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 $70 billion in annual revenue, AmerisourceBergen is headquartered
in Valley Forge, PA, and employs approximately 11,000 people.
AmerisourceBergen is ranked #28 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 our current
expectations and are subject to uncertainty and change in
circumstances. Among the factors that could cause actual results to
differ materially from those projected, anticipated or implied are the
following: changes in pharmaceutical market growth rates; the loss of
one or more key customer or supplier relationships; changes in
customer mix; customer or 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; 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
erythropoiesis-stimulating agents (ESAs) used to treat anemia
patients; price inflation in branded pharmaceuticals and price
deflation in generics; significant breakdown or interruption of our
information technology systems; 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; 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; our ability to maintain adequate liquidity and
financing sources; continued volatility and further deterioration of
the capital 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.
CONTACT: AmerisourceBergen Corporation
Michael N. Kilpatric, 610-727-7118
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation