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The board of directors of Patterson Companies, Inc. (Nasdaq: PDCO) today
authorized a new $500 million share repurchase program and declared a
quarterly cash dividend of $0.26 per share.
“The new share repurchase plan and our quarterly dividend reflect the
board’s continued confidence in Patterson’s future, bolstered by the
strength of our end markets and our compelling value proposition,” said
John D. Buck, chairman of the board of Patterson Companies. “We are
committed to a balanced allocation of capital, which includes returning
cash to our shareholders.”
The board of directors has approved an authorization to repurchase up to
$500 million of Patterson Companies common stock through March 13, 2021,
under the new plan. The new share repurchase program replaces the
remaining authorization from Patterson’s previous plan, which was
scheduled to expire on March 19, 2018. The timing and amount of any
share repurchases under the new authorization will be determined by
management based on market conditions and other considerations.
The board also declared a quarterly cash dividend of $0.26 per share.
The dividend will be payable on April 27, 2018, to shareholders of
record as of the close of business on April 13, 2018.
About Patterson Companies Inc.Patterson Companies
Inc. (Nasdaq: PDCO) is a value-added distributor serving the dental and
animal health markets.
Dental MarketPatterson’s Dental
segment provides a virtually complete range of consumable dental
products, equipment and software, turnkey digital solutions and
value-added services to dentists and dental laboratories
throughout North America.
Animal Health MarketPatterson’s Animal
Health segment is a leading distributor of products, services and
technologies to both the production and companion animal health markets
in North America and the U.K.
View source version on businesswire.com: http://www.businesswire.com/news/home/20180313006536/en/
Patterson Companies Inc.John M. Wright, Investor Relations,