Patterson Companies Board Authorizes New Share Repurchase Program and Declares Quarterly Cash Dividend
March 13 2018 - 5:33PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20180313006536/en/
Patterson Companies Inc.John M. Wright, Investor Relations,
651-686-1364john.wright@pattersoncompanies.compattersoncompanies.com
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