Premier (PINC) Announces $250M Share Buyback; Increases Quarterly Dividend

Premier, Inc. (NASDAQ: PINC), a leading healthcare improvement company, announced that its Board of Directors approved a share repurchase program under which the company may repurchase up to $250 million of its outstanding Class A common stock through the remainder of fiscal year 2022. The Board also approved a 5.3% increase in the company’s quarterly cash dividend to $0.20 per share. The cash dividend will be payable on September 15, 2021, to stockholders of record as of the close of business on September 1, 2021.

“The Board’s approval of our new share repurchase program and increase to our dividend demonstrates our balanced approach to capital allocation – one that prioritizes investments in growth, both organically and through acquisitions, that we believe will further strengthen our ability to deliver innovative, technology-based solutions for our members and other customers,” said Michael J. Alkire, President and CEO of Premier. “In addition, the Board’s decision reflects the strength of our financial position, our confidence in our future and our commitment to returning capital to our stockholders.”

The company expects to execute the necessary agreements and documentation to initiate the contemplated repurchase program during the next open trading window under the company’s insider trading policy, scheduled to occur shortly after fiscal 2021 fourth-quarter financial results are reported on August 17, 2021. However, there can be no assurance when or whether the repurchase program will be initiated or regarding the number of shares of Class A common stock that will be purchased under the program.

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