Cardinal Health Inc (CAH) Wednesday announced that the Board of Directors of the company have approved a new, three-year authorization to repurchase the common shares of the company to the extent of up to $750 million.
The healthcare services company stated that the new authorization will replace the earlier authorization for $750 million worth o f repurchases granted earlier in November 2010.
The company further added that the new authorization will be effective immediately and will expire on or before August 312, 2015..
The company also stated that the board of directors approved a cash dividend of $0.2375 per share payable on Oct. 15, 2012 to shareholders of record on Oct. 1, 2012.
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