Allergan (AGN) Initiates Qtr. Dividend at 70c/Share; Approves $10B to Stock Buyback Plan

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Go back to Allergan (AGN) Initiates Qtr. Dividend at 70c/Share; Approves $10B to Stock Buyback Plan

Allergan (AGN) Misses Q3 EPS Views; Offers Pipeline, FY16 Guidance Updates

November 2, 2016 6:37 AM EDT

Allergan (NYSE: AGN) reported Q3 EPS of $3.32, $0.26 worse than the analyst estimate of $3.58. Revenue for the quarter came in at $3.62 billion versus the consensus estimate of $3.69 billion.

New Dividend and Stock Buyback:

Allergan (NYSE: AGN) initiated a quarterly dividend of $0.70 per share, or $2.8 annualized. Yield is currently 1.3 percent.

Allergan also entered into a variable tenor accelerated share repurchase program (ASR) under which the Company will repurchase $10 billion of its ordinary shares.

Pipeline Update

Allergan R&D continued to build and deliver on... More