Henry Schein announces $400 million increase to share repurchase plan

Oct. 19, 2016

Henry Schein Inc. authorized the repurchase of up to $400 million of shares of the company's common stock.

Henry Schein Inc. announced today that its Board of Directors has authorized the repurchase of up to $400 million of shares of the company's common stock. This program is in addition to the $400 million repurchase program announced in December 2015, which as of today has approximately $29 million remaining authorized for future repurchases.

The company had approximately 82 million shares outstanding as of July 27, 2016, and this new authorization represents approximately 3.0% of shares outstanding at the current stock price. Purchases may be made from time to time in the open market, or through negotiated transactions.

"Henry Schein's share repurchase program demonstrates our long-term commitment to create further value for our shareholders, and reflects our confidence in the long-term prospects of our business," said Stanley M. Bergman, Chairman of the Board and CEO of Henry Schein. "We are pleased that Henry Schein's strong balance sheet provides us with the financial flexibility to return capital to our shareholders, as we continue to pursue new markets and geographies while strengthening and broadening our health care product and service offerings."

Source: The above is an edited version of a Henry Schein press release issued 19 October 2016.

Editor's note:

This article first appeared in the Apex360 e-newsletter. Apex360is a DentistryIQ partner publication for dental practitioners and members of the dental industry. Its goal is to provide timely dental information and present it in meaningful context, empowering those in the dental space to make better business decisions. Visit the Apex360 home page here, and subscribe to the Apex360 e-newsletter here.