Zimmer Holdings Inc. (ZMH: Quote) said its board approved the payment of a quarterly cash dividend to stockholders for the first quarter of 2012. Zimmer's board also authorized a new share repurchase program.
The initial quarterly cash dividend of $0.18 per share would be paid on or about April 27, 2012, to stockholders of record as of the close of business on March 30, 2012. The share buyback program authorizes purchases of up to $1.5 billion of the company's common stock through December 31, 2014. No further purchases would be made under the earlier program, which authorized purchases through December 31, 2013.
The company had around 179.2 million common shares outstanding as of October 26, 2011.
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by RTT Staff Writer
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