AmerisourceBergen (NYSE:ABC) has loaded a double dose of share price-boosting measures. The company declared a quarterly common stock dividend of $0.21 per share, to be paid on September 3 to shareholders of record as of August 19. That amount is in line with AmerisourceBergen's previous three distributions, the most recent of which was paid in early June. Prior to that, the firm handed out $0.13 per share.
The just-declared dividend annualizes to $0.84 per share. That yields 1.4% at the company's most recent closing stock price of $59.61.
AmerisourceBergen's board also authorized a buyback program for up to $750 million worth of common stock. This, combined with the $446.1 million remaining on the firm's existing program, brings the total authorization to nearly $1.2 billion.
Currently, the company has 231 million shares outstanding.
Fool contributor Eric Volkman has no position in AmerisourceBergen. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.