Pfizer Announces Eye-Popping $11 Billion Share Buyback Plan
REUTERS/Lucas Jackson
This is in addition to the $1.3 billion remaining under the company's current repurchase plan.
Pfizer said only that this repurchase would be completed "over time."
In its second quarter earnings report in July, Pfizer said it expected that it would spend $5 billion over the balance of the year on share repurchases.
In July, the company said that, "These 2014 repurchases and planned repurchases are expected to reduce total shares outstanding by approximately 100 million shares by the end of the year after factoring in actual and projected dilution related to employee compensation programs."
In after hours trade shares of Pfizer were up 1.4% following the announcement.
Pfizer is set to announce third quarter results on Tuesday, October 28 before the market open.
- Spiti Valley guide 2024: Stunning locations & interesting things to do
- Zydus Q4 net profit surges 4-fold to ₹1,182 cr; revenue at ₹5,534 cr
- Sebi mulls facilitating MFs to invest in overseas funds with exposure to Indian securities
- India's forex reserves jump $2.56 bn to $644.15 bn
- JSW Steel Q4 net profit falls 65% to ₹1,322 crore