Zoetis Raises FY22 Dividend By 30%, Announces New Buyback Program Of $3.5B

by Vandana Singh, Benzinga Editor

December 8, 2021 9:20 AM | 1 min read |

The board of directors of Zoetis Inc ZTS has approved a $3.5 billion share repurchase program.
The company added that the new share buyback, spanning across a multi-year period, could be canceled at any time.
Zoetis’ previous share repurchase program, valued at $2.0 billion, ends in 2022.
The animal health company has also declared a $0.325 dividend per share for Q1 2022.
The newly announced dividend, to be paid on March 01, 2022, with a record date of January 20, 2022, implies an increase of approximately 30% from the quarterly dividend rate paid in 2021, Zoetis notes.
Price Action: ZTS shares closed at $225.7 on Tuesday.