Amgen raises dividend, declares $2B stock buyback
THOUSAND OAKS, Calif. (AP) — Biotech drug maker Amgen Inc. on Thursday raised its quarterly dividend by about 31 percent, to 47 cents per share from 36 cents, and said it will buy back another $2 billion in company stock.
The next dividend is payable March 7 to shareholders of record on Feb. 13. Amgen began paying dividends in fall 2011.
Amgen has bought back approximately $9.5 billion in stock since October 2011 and it has $500 million remaining under its previous share repurchase authorization.
The company had 767.4 million shares on the market as of Oct. 29 and its stock reached an all-time high of $90.81 on Wednesday. The shares fell $1.02 to close at $89.15 on Thursday.