Covidien Declares Quarterly Cash Dividend and Announces Share Repurchase Program

Published March 17th, 2010 - 09:53 GMT
Covidien plc (NYSE: COV) today announced that its Board of Directors has declared a quarterly cash dividend of $0.18 per ordinary share. The dividend is payable on May 14, 2010, to shareholders of record on April 15, 2010.
Covidien also announced that its Board of Directors has authorized a program to purchase up to $1 billion of the Company’s ordinary shares from time to time, based on market conditions, primarily to offset dilution related to equity compensation plans.
“The Board's approval of the share repurchase program reflects our confidence in the continued growth of Covidien’s business and an ongoing commitment to enhance shareholder value," said Richard J. Meelia, Chairman, President and CEO. “We remain committed to maintaining a strong balance sheet and are confident that this program will allow us to continue to pursue strategic opportunities for growth.”
Source : ME NewsWire

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