Cardinal Health Ups Dividend
June 2, 2009 (FinancialWire) — Cardinal Health (NYSE: CAH) has authorized a 25 percent increase in its regular quarterly dividend, to $0.175 per share, or $0.70 per share on an annualized basis.
The dividend increase comes in advance of Cardinal’s planned spinoff of CareFusion, the company that is expected to become public from the spinoff of Cardinal Health’s clinical and medical products businesses.
Cardinal’s dividend, which will be payable on July 15 for shareholders of record on July 1, will be increased to $0.175 per share. The company has increased its quarterly dividend from $0.03 per share in 2005 and has paid a $0.14 per share quarterly dividend since July 15, 2008.
Dublin, Ohio-based Cardinal Health offers products and services aimed at hospitals, physician offices and pharmacies. Cardinal Health develops technologies, including Alaris IV pumps, Pyxis automated dispensing and patient identification systems, MedMined electronic infection surveillance service and Viasys respiratory care products.
The company also manufactures medical and surgical products and is a distributor of pharmaceuticals and medical supplies worldwide.
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