Allergan Announces $10 Bln Share Repurchase; Initiates Dividend

(RTTNews) - Allergan plc (AGN) announced its Board has approved the expansion of the share repurchase program. Allergan entered into a variable tenor accelerated share repurchase program under which the company will repurchase $10 billion of its ordinary shares. Approximately $8 billion worth of shares are expected to be received and retired by Allergan during November 2016.

The Board of Allergan has also authorized the initiation of a quarterly dividend of $0.70 per share with the first payment on March 28, 2017, to shareholders of record at the close of business on February 28, 2017. The company expects to grow the dividend on an annual basis over time.