AmerisourceBergen (ABC) Announces 2-for-1 Stock Split, Plans To Raise Dividend
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AmerisourceBergen Corporation (NYSE: ABC) announced a two-for-one stock split of the Company’s outstanding shares of common stock.
The Board also plans to increase the quarterly dividend by 20 percent to $0.06 per common share on a post-split basis beginning with the third fiscal quarter of 2009.
AmerisourceBergen reaffirmed its fiscal year 2009 expectations for diluted earnings per share from continuing operations in the range of $3.18 to $3.30, or $1.59 to $1.65 on a post-split basis, over the $2.89, or $1.44 on a split-adjusted basis, in fiscal year 2008. The Company also reaffirmed the assumptions supporting the fiscal 2009 diluted earnings per share from continuing operations range: revenue growth of between 1 percent and 3 percent; operating margin expansion in the low to mid single digit basis point range; and free cash flow in the range of $460 million to $535 million, which includes capital expenditures in the $140 million range. Also unchanged is the expected repurchase of approximately $350 million of AmerisourceBergen common shares in fiscal 2009.
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