Interventional firm Guidant of Indianapolis has increased its quarterly dividend by 25%, raising the quarterly dividend to 10¢ per share from 8¢ per share on outstanding common stock.
The dividend is payable March 15, 2004 to all shareholders of record on March 1, 2004, the company said. Guidant’s board of directors also approved a plan to use proceeds from stock option exercises over the next year to buy back shares to help offset dilution with the company’s equity compensation programs.
The firm said that the use of option proceeds would be neutral to its overall debt position. It estimates that stock repurchases could be as much as $250 million this year.
By AuntMinnie.com staff writers
February 18, 2004
Related Reading
Guidant acquires AFx, February 10, 2004
Guidant keeps up growth in 2003, January 29, 2004
Guidant notches record Q3, October 16, 2003
Guidant names Lorell as chief medical and technology officer, October 2, 2003
Guidant completes stent trial enrollment, September 24, 2003
Copyright © 2004 AuntMinnie.com
