Quest Diagnostics Increases Share Repurchase Authority by $1 Billion
News Jan 25, 2012

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."
RELATED ARTICLES
Like what you just read? You can find similar content on the communities below.
InformaticsTo personalize the content you see on Technology Networks homepage, Log In or Subscribe for Free
LOGIN SUBSCRIBE FOR FREE