RICHMOND, Va.--(BUSINESS WIRE)--
Owens & Minor, Inc. (NYSE:OMI) announced that its board of directors has
approved the payment of the first quarter 2014 cash dividend in the
amount of $0.25 per share, a 4.2% increase over the prior quarter's
dividend. The cash dividend is payable on March 31, 2014, to
shareholders of record as of March 17, 2014.
The company's board of directors also authorized a share repurchase
program of up to $100 million of the company's outstanding common stock
to be executed at the discretion of management over a three-year period,
expiring in February 2017. The timing of repurchases and the exact
number of shares of common stock to be purchased will be determined by
management and will depend upon market conditions and other factors. The
program is intended, in part, to offset shares issued in conjunction
with the company's stock-based compensation and may be suspended or
discontinued at any time.
"Owens & Minor has paid dividends consistently since 1930, and this
long-standing track record reflects the board's commitment to creating
value for our shareholders," said Craig R. Smith, chairman & chief
executive officer of Owens & Minor. "Also, the $100 million share
repurchase authorization gives us an additional means to return capital
to our shareholders."
Owens & Minor, Inc., (NYSE: OMI)
a FORTUNE 500 company headquartered in Richmond, Virginia, is a
leading national provider of distribution and logistics services to the
healthcare industry and a leading European provider of logistics
services to pharmaceutical, life-science, and medical-device
manufacturers. With a diverse product and service offering and
facilities throughout the United States and Europe, the company serves
hospitals, integrated healthcare systems, alternate site locations,
group purchasing organizations, healthcare manufacturers, and the
federal government. Owens & Minor also provides technology and
consulting programs that improve inventory management and streamline
logistics across the entire medical supply chain. For news releases, or
for more information about Owens & Minor, visit the company website at www.owens-minor.com.
Owens & Minor, Inc.
Truitt Allcott, Director, Investor & Media
Graves, Director, Finance & Investor Relations
Source: Owens & Minor, Inc.
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