Zoetis Raises Quarterly Dividend by 30%, Sets $3.5 Billion Buyback
08 December 2021 - 9:15AM
Dow Jones News
By Colin Kellaher
Zoetis Inc. on Tuesday said its board raised the quarterly
dividend by 30%, to 32.5 cents from 25 cents, and approved a new
$3.5 billion share-repurchase program.
The Parsippany, N.J., animal-health company, which has about 473
million shares outstanding, sports a market capitalization topping
$105 billion.
The new quarterly payout, equal to $1.30 a year, represents an
annual yield of about 0.58% based on Tuesday's closing price of
$225.70, up from about 0.44%.
Zoetis said it expects to complete its previous $2 billion
stock-buyback program, which the board approved in 2018, during
2022.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
December 07, 2021 17:00 ET (22:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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