WALTHAM, Mass.--(BUSINESS WIRE)--Thermo Fisher Scientific Inc. (NYSE: TMO), the world leader in serving science, today announced that its Board of Directors has authorized an increase of its quarterly cash dividend from $0.13 to $0.15 per common share, payable on January 15, 2013, to shareholders of record as of December 17, 2012.
The board also authorized the repurchase of an additional $1 billion of shares of the company’s common stock in the open market or in negotiated transactions. The new repurchase authorization is effective January 1, 2013. As of October 1, the company had $350 million remaining under its existing share repurchase authorization, which expires December 31, 2012.
“Returning capital to our shareholders through stock buybacks continues to be an important part of our capital deployment strategy,” said Marc N. Casper, president and chief executive officer of Thermo Fisher Scientific. “We’re also pleased to announce that we’re increasing our quarterly dividend, based on our strong performance so far this year and our outlook for the future.”
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc. (NYSE: TMO) is the world leader in serving science. Our mission is to enable our customers to make the world healthier, cleaner and safer. With revenues of $12 billion, we have approximately 39,000 employees and serve customers within pharmaceutical and biotech companies, hospitals and clinical diagnostic labs, universities, research institutions and government agencies, as well as in environmental and process control industries. We create value for our key stakeholders through three premier brands, Thermo Scientific, Fisher Scientific and Unity Lab Services, which offer a unique combination of innovative technologies, convenient purchasing options and a single solution for laboratory operations management. Our products and services help our customers solve complex analytical challenges, improve patient diagnostics and increase laboratory productivity. Visit www.thermofisher.com.