Quest Diagnostics Increases Share Repurchase Authority by $1 Billion

News

Published: January 25, 2012

Want a FREE PDF version of This News Story?

Complete the form below and we will email you a PDF version of "Quest Diagnostics Increases Share Repurchase Authority by $1 Billion"

First Name*

Last Name*

Email Address*

Country*

Company Type*

Job Function*

Would you like to receive further email communication from Technology Networks?

Technology Networks Ltd. needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy

Read time:

During 2011, the company repurchased approximately 17 million shares of common stock for $935 million. The company had 157 million shares outstanding as of December 31, 2011.

"This increase in our share repurchase authority demonstrates confidence in our continued ability to generate strong cash flow," said Surya N. Mohapatra, Ph.D., Chairman and Chief Executive Officer. "As we have said, with key acquisitions in place, we updated our capital deployment philosophy to return a majority of our free cash flow to shareholders over the medium-term through share repurchases and dividends."

Chosen for You