November 13, 2009 (FinancialWire) — AmerisourceBergen Corp.’s (NYSE: ABC) board has increased the company’s quarterly dividend rate 33 percent to $0.08 per common share from $0.06 per common share. The board also authorized a new $500 million share repurchase program.

The quarterly dividend of $0.08 per common share will be payable December 7, 2009, to stockholders of record at the close of business on November 23, 2009.

AmerisourceBergen said it will use the new program to repurchase its outstanding shares of common stock, subject to market conditions. The new repurchase program, combined with $68.1 million remaining on a November 13, 2008 authorization, provides AmerisourceBergen with $568.1 million currently authorized for the repurchase of common shares.

The company plans to spend around $350 million to repurchase its common shares in fiscal year 2010. The company currently has around 288 million common shares outstanding.

Valley Forge, Pennsylvania-based AmerisourceBergen is a pharmaceutical services firm with operations primarily in the United States and Canada.

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