Posted on Sunday, 28th March 2010 by Laura Hernandez
EVANSVILLE Mead Johnson Nutrition will increase its stock dividend and it also plans to repurchase up to $300 million of its common stock, the company announced Wednesday.
The Evansville-based company’s board of directors approved a quarterly dividend of 22.5 cents per share for the quarter ending March 31, up from 20 cents per share. Dividends will be paid April 1 to shareholders of record as of March 24.
The board also authorized a stock repurchase program that will be carried out in the open market or privately negotiated transactions.
In a press release, Mead Johnson Chief Executive Officer Stephen W. Golsby said the board’s decisions “are based on the company’s solid financial performance over the past year, as well as confidence in our future growth prospects and ability to generate strong cash flow.”
Mead Johnson develops, manufactures, markets and distributes pediatric nutrition products that include Enfamil infant formula.
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