logo
Share SHARE
FONT-SIZE Plus   Neg

Amgen Reports Board Appointments; $2 Bln Increase In Buyback; Boosts Q1 Dividend

Amgen (AMGN) announced that it has appointed chief executive officer Robert Bradway as chairman of the Board. The company also revealed the appointment of director Vance Coffman as lead independent director. The company specified that both the appointments to be effective on January 1, 2013.

Separately, Amgen named Robert Eckert, former chief executive officer at Mattel, Inc., to its Board of Directors. Eckert will serve on the Audit and Corporate Responsibility and Compliance Committees of the Board.

Following the appointment of Eckert and the previously announced retirement of Kevin Sharer from the Board on December 31, the Board on January 1, 2013, will be comprised of 14 directors, 13 of whom are independent.

Robert Bradway served as Amgen's Chief Executive Officer since May 2012 and was appointed to the Amgen Board of Directors in October 2011. Coffman served as a director of the Company since October 2007. Eckert currently serves as non-executive Chairman at Mattel, Inc., where he served as Chief Executive Officer from 2000 through 2011.

Amgen also declared a $0.47 per share dividend for the first quarter of 2013, which is payable on March 7, 2013, to all stockholders of record as of the close of business on Feb. 13, 2013. This represents an approximate 31 percent increase from that paid in each of the previous four quarters.

Amgen's Board approved an increase in share repurchase authorization in the amount of $2 billion. This amount is in addition to about $0.5 billion remaining under the previously announced $10 billion share repurchase program. Amgen expects that the increase in repurchase authorization being announced will cover the company's share repurchase activity into 2014.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Apple Inc. has confirmed that the iPhone 6s battery issue may be larger than thought, as the tech giant said that some customers "outside the affected range of devices" have also reported unexpected shutdowns. The company again stressed that it is not a security issue. Tesla Motors Inc. voluntarily recalled more than 7000 charging adapters. The company said these adapters of Nema 14-30, 10-30 and 6-50 are sold separately as accessories. Earlier in November, two customers had complained about overheating issue of Nema 14-30 charging adapters. Tesla confirmed in its recall communication that there were no other similar incidents or reports of injuries or proper Sony announced Project Field, a new play way to bring card games to life, along with a host of smartphone games at an event in Japan, aiming to accelerate mobile drive. Project Field is a Japan-only card collection platform where actual physical cards will work with a smartphone app. The first title to be announced is based on Yo-kai Watch for mobile. There is no news about an international releas
comments powered by Disqus
Follow RTT