West Announces First-Quarter 2022 Dividend and 2022 Share Repurchase Program

Rhea-AI Summary

West Pharmaceutical Services (WST) announced a $0.18 per share dividend for Q1 2022, payable on February 2, 2022, to shareholders on record by January 19, 2022. Additionally, the company's Board of Directors approved a share repurchase program for 2022, allowing the buyback of up to 650,000 shares. This program aims to enhance shareholder value and is expected to conclude by December 31, 2022, following the expiration of a previous buyback.

Positive

• Approved a $0.18 per share dividend, enhancing shareholder returns.
• Authorized a share repurchase program of up to 650,000 shares, indicating confidence in the company's value.

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• None.

EXTON, Pa., Jan. 5, 2022 /PRNewswire/ -- West Pharmaceutical Services, Inc. (NYSE: WST), a global leader in innovative solutions for injectable drug administration, today announced that the Company's Board of Directors have approved a first-quarter 2022 dividend of $0.18 per share.  The dividend will be paid on February 2, 2022, to shareholders of record as of January 19, 2022.

The Company's Board of Directors authorized a share repurchase program for calendar-year 2022 of up to 650,000 shares of the Company's common stock from time to time on the open market or in privately negotiated transactions, as permitted under Exchange Act Rule 10b-18.  The number of shares to be repurchased and the timing of such transactions will depend on a variety of factors, including market conditions.  The share repurchase program is expected to be completed by December 31, 2022.  The Company's previously authorized share repurchase program expired on December 31, 2021.

About West  

West Pharmaceutical Services, Inc. is a leading provider of innovative, high-quality injectable solutions and services. As a trusted partner to established and emerging drug developers, West helps ensure the safe, effective containment and delivery of life-saving and life-enhancing medicines for patients. With almost 10,000 team members across 50 sites worldwide, West helps support our customers by delivering over 40 billion components and devices each year. 

Headquartered in Exton, Pennsylvania, and in business for nearly a century, West in its fiscal year 2020 generated over $2.15 billion in sales. West is traded on the New York Stock Exchange (NYSE: WST) and is included on the Standard & Poor's 500 index. For more information, visit www.westpharma.com. 

All trademarks and registered trademarks used in this release are the property of West Pharmaceutical Services, Inc. or its subsidiaries, in the United States and other jurisdictions, unless otherwise noted.

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SOURCE West Pharmaceutical Services, Inc.

FAQ

What is the dividend amount for West Pharmaceutical Services in Q1 2022?

The dividend amount is $0.18 per share.

When will the dividend for West Pharmaceutical Services be paid?

The dividend will be paid on February 2, 2022.

What is the purpose of the share repurchase program announced by West Pharmaceutical Services?

The share repurchase program aims to enhance shareholder value.

How many shares is West Pharmaceutical Services authorized to repurchase in 2022?

The company is authorized to repurchase up to 650,000 shares.

When is the share repurchase program expected to be completed?

The share repurchase program is expected to be completed by December 31, 2022.