Owens & Minor Approves 1st Quarter Dividend of $0.25 per Share and Authorizes a 3-year, $100 Million Share Repurchase Program
February 10 2014 - 5:34PM
Business Wire
Owens & Minor, Inc. (NYSE:OMI) announced that its board of
directors has approved the payment of the first quarter 2014 cash
dividend in the amount of $0.25 per share, a 4.2% increase over the
prior quarter’s dividend. The cash dividend is payable on March 31,
2014, to shareholders of record as of March 17, 2014.
The company’s board of directors also authorized a share
repurchase program of up to $100 million of the company’s
outstanding common stock to be executed at the discretion of
management over a three-year period, expiring in February 2017. The
timing of repurchases and the exact number of shares of common
stock to be purchased will be determined by management and will
depend upon market conditions and other factors. The program is
intended, in part, to offset shares issued in conjunction with the
company’s stock-based compensation and may be suspended or
discontinued at any time.
“Owens & Minor has paid dividends consistently since 1930,
and this long-standing track record reflects the board’s commitment
to creating value for our shareholders,” said Craig R. Smith,
chairman & chief executive officer of Owens &
Minor. “Also, the $100 million share repurchase authorization
gives us an additional means to return capital to our
shareholders.”
Owens & Minor, Inc.,
(NYSE: OMI) a FORTUNE 500 company headquartered in Richmond,
Virginia, is a leading national provider of distribution and
logistics services to the healthcare industry and a leading
European provider of logistics services to pharmaceutical,
life-science, and medical-device manufacturers. With a diverse
product and service offering and facilities throughout the United
States and Europe, the company serves hospitals, integrated
healthcare systems, alternate site locations, group purchasing
organizations, healthcare manufacturers, and the federal
government. Owens & Minor also provides technology and
consulting programs that improve inventory management and
streamline logistics across the entire medical supply chain. For
news releases, or for more information about Owens & Minor,
visit the company website at www.owens-minor.com.
Owens & Minor, Inc.Truitt Allcott, Director, Investor &
Media Relations804-723-7555truitt.allcott@owens-minor.comorChuck
Graves, Director, Finance & Investor
Relations804-723-7556chuck.graves@owens-minor.com
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