By Colin Kellaher

 

Zoetis Inc. on Tuesday said its board raised the quarterly dividend by 30%, to 32.5 cents from 25 cents, and approved a new $3.5 billion share-repurchase program.

The Parsippany, N.J., animal-health company, which has about 473 million shares outstanding, sports a market capitalization topping $105 billion.

The new quarterly payout, equal to $1.30 a year, represents an annual yield of about 0.58% based on Tuesday's closing price of $225.70, up from about 0.44%.

Zoetis said it expects to complete its previous $2 billion stock-buyback program, which the board approved in 2018, during 2022.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

December 07, 2021 17:00 ET (22:00 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
Zoetis (NYSE:ZTS)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more Zoetis Charts.
Zoetis (NYSE:ZTS)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more Zoetis Charts.