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Chumpmenudo
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CEO of a privately held materials science company engaged in the development of new materials for promising energy related applications. From the midwest (Go Blue!), but lucky enough to live in a nice climate today. Great family with three kids - when I'm not coaching or watching their numerous... More
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  • TEVA & Their Dividend 0 comments
    Feb 8, 2013 3:47 PM | about stocks: TEVA

    From the earnings call with their CEO:

    "I'm particularly pleased to announce today that Teva's Board of Directors elected to increase the company's quarterly dividend by 15%. This increase in our dividend reflects the Board's and management's optimism about the future of our business and Teva's commitment to reward our shareholders. Additionally, as you may have noticed we repurchased approximately $0.5 billion of our stock in the fourth quarter for a total of approximately $1.2 billion in 2012.

    Overall, we returned over $2 billion or 58% of our free cash flow to our shareholders in 2012 through dividends and share repurchases. Teva remains committed to invest in the future of our company. Today as part of our reshape program announced late last year we are announcing our intention to sell our injectable manufacturing facility in Irvine, California. Our desire is to supply more of our products from our more cost-effective locations thereby beginning to optimize our entire network. We currently have five FDA approved sterile manufacturing sites from which to supply product including our new state-of-the-art facility in Godollo, Hungary. Our goal is to sell the Irvine plant to a buyer with a strategic long-term interest in the facility who will continue to manufacture for Teva as we work towards moving these products other locations in our network."

    Long TEVA

    Stocks: TEVA
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