- 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.
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