Patterson Companies Increases Dividend to $0.12; Announces New $25M Share Repurchase Plan

Patterson Companies, Inc. PDCO today announced that its board of directors has approved an increase in the quarterly cash dividend to $0.12 per share from $0.10 per share. The dividend is payable on April 28, 2011 to shareholders of record at the close of business on April 11, 2011.

Patterson's board of directors also approved a new 25 million share repurchase plan that replaces the existing share buyback authorization under which approximately 4.5 million shares were available for repurchase. Under the new authorization, shares can be repurchased through open market transactions through March 15, 2016.