Bristol Myers Squibb (BMY) said its Board has declared a quarterly dividend of $0.54 per share on the $0.10 par value common stock of the company. The dividend is payable on February 1, 2022 to stockholders of record at the close of business on January 7, 2022. This amount represents a 10.2% increase in the quarterly dividend over last year's quarterly rate of $0.49 per share. The annual dividend rate for fiscal 2022 is $2.16 per share.
Bristol Myers Squibb said its Board also authorized the repurchase of an additional $15 billion of the company's common stock. With this increase, the total outstanding share repurchase authorization is approximately $15.2 billion.
Giovanni Caforio, CEO, Bristol Myers Squibb, said: "With significant free cash flow of $45 billion to $50 billion expected between 2021 and 2023, investment in business development continues to be a key priority for the company in driving innovation and sustained growth as we return capital to shareholders through the dividend increase and expanded share repurchase authorization."
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