Patterson Cos. (PDCO) Declares $0.26 Quarterly Dividend; Approves New $500M Buyback Plan

Patterson Cos. (NASDAQ: PDCO) declared a quarterly dividend of $0.26 per share, or $1.04 annualized.

The dividend will be payable on April 27, 2018, to stockholders of record on April 13, 2018, with an ex-dividend date of April 12, 2018.

The annual yield on the dividend is 4.2 percent.

The board of directors of Patterson Companies, Inc. (Nasdaq: PDCO) today authorized a new $500 million share repurchase program.

“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.

For a dividend history and other dividend-related data on Patterson Cos. (PDCO) click here.

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