Bristol Myers Squibb Announces Dividend Increase and Additional $15 Billion Share Repurchase Authorization
Bristol Myers Squibb (NYSE: BMY) announced on December 10, 2021, a 10.2% increase in its quarterly dividend to
- Quarterly dividend increased by 10.2% to $0.54, boosting shareholder returns.
- Thirteenth consecutive year of dividend increases enhances investor confidence.
- Authorized a $15 billion share repurchase program, totaling $15.2 billion, to support stock price.
- None.
“The company’s financial position is strong, and we remain committed to a consistent, balanced capital allocation strategy,” said
Increase in 2022 Dividend
The Board of Directors has declared a quarterly dividend of
This amount represents a
In addition, the Board of Directors has declared a quarterly dividend of
Multi-Year Share Repurchase Authorization
The Board of Directors also authorized the repurchase of an additional
The timing and amount of any share repurchases under the authorization will be determined by management at its discretion and based on market conditions and other considerations. Share repurchases under the authorizations may be made through a variety of methods, which may include open market purchases, pursuant to pre-set trading plans meeting the requirements of Rule 10b-1 under the Securities Exchange Act of 1934, in privately negotiated transactions, block trades, accelerated share repurchase transactions, or any combination of such methods. The program does not obligate
About
Use of Non-GAAP Information
Free cash flow is a non-generally accepted accounting principle (GAAP) financial measure that we use to describe our company’s performance. This non-GAAP information provides investors with additional useful information but should not be considered in isolation or as a substitute for the related GAAP measure. Moreover, other companies may define free cash flow differently, which limits the usefulness of this measure for comparisons with such other companies. We encourage investors to review our financial statements and publicly filed reports in their entirety and not to rely on any single financial measure. An explanation of free cash flow and how we use it is available on our website at bms.com/investors. Also note that a reconciliation of the forward-looking free cash flow measure, however, is not provided due to no reasonably accessible or reliable comparable GAAP measure and the inherent difficulty in forecasting and quantifying such measure that are necessary for such reconciliation.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 regarding, among other things, the timing and amount of cash dividends and any share repurchases, as well as our expected free cash flow and financial position in the future. These statements may be identified by the fact they use words such as “should,” “could,” “expect,” “anticipate,” “estimate,” “target,” “may,” “project,” “guidance,” “intend,” “plan,” “believe,” “will” and other words and terms of similar meaning and expression in connection with any discussion of future operating or financial performance, although not all forward-looking statements contain such terms. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements are based on historical performance and current expectations and projections about our future financial results, goals, plans and objectives and involve inherent risks, assumptions and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years, that are difficult to predict, may be beyond our control and could cause our future financial results, goals, plans and objectives to differ materially from those expressed in, or implied by, the statements. No forward-looking statement can be guaranteed. Forward-looking statements in this press release should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb’s business and market, particularly those identified in the cautionary statement and risk factors discussion in Bristol Myers Squibb’s Annual Report on Form 10-K for the year ended
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FAQ
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