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Novartis Reiterates Its Shareholder Focused Approach To Capital Allocation

Novartis (NVS) reiterated its shareholder focused approach to capital allocation, including its intention to continue paying a growing annual dividend up from the CHF 2.85 per share paid in 2019, without adjustments for the Alcon spin-off. The company said share buybacks will continue to be part of the mix to create shareholder value, with $0.8 billion of an up to $5 billion commitment completed in 2018, and the remainder expected to be completed by the end of 2019.

Shares in Alcon, Inc. will be listed and commence trading on April 9 under the symbol, ALC on the SIX Swiss Exchange and on the New York Stock Exchange. Shares of Novartis will continue to trade on the SIX under the symbol, NOVN and Novartis ADRs will continue to trade on the NYSE under the symbol, NVS.

Novartis plans to provide more information on its strategic priorities and prospects to investors and analysts at its annual Meet Novartis Management event, on May 22-23, 2019.

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