Amgen Announces 31 Percent Increase In 2013 First Quarter Dividend
And Increase In Its Share Repurchase Authorization
THOUSAND OAKS, Calif.,
Dec. 13, 2012 /PRNewswire/
-- Amgen (NASDAQ:AMGN) announced that its Board of Directors
today declared a $0.47 per share
dividend for the first quarter of 2013. The dividend will be paid
on March 7, 2013, to all stockholders
of record as of the close of business on Feb. 13, 2013. This represents an approximate 31
percent increase from that paid in each of the previous four
quarters. Amgen's Board of Directors also approved an increase in
share repurchase authorization in the amount of $2 billion. This amount is in addition to
approximately $0.5 billion remaining
under the previously announced $10
billion share repurchase program. Amgen expects that the
increase in repurchase authorization being announced today will
cover the company's share repurchase activity into 2014. The
company expects to fund these additional share repurchases and the
dividend with U.S. cash on hand and U.S. free cash flow.
About Amgen
Amgen discovers, develops, manufactures
and delivers innovative human therapeutics. A biotechnology pioneer
since 1980, Amgen was one of the first companies to realize the new
science's promise by bringing safe, effective medicines from lab to
manufacturing plant to patient. Amgen therapeutics have changed the
practice of medicine, helping millions of people around the world
in the fight against cancer, kidney disease, rheumatoid arthritis,
bone disease and other serious illnesses. With a deep and broad
pipeline of potential new medicines, Amgen remains committed to
advancing science to dramatically improve people's lives. To learn
more about our pioneering science and vital medicines, visit
www.amgen.com. Follow us on www.twitter.com/amgen.
Forward-Looking Statements
This news release contains
forward-looking statements that involve significant risks and
uncertainties, including those discussed below and others that can
be found in our Form 10-K for the year ended Dec. 31, 2011,
and in our periodic reports on Form 10-Q and Form 8-K. Amgen is
providing this information as of the date of this news release and
does not undertake any obligation to update any forward-looking
statements contained in this document as a result of new
information, future events or otherwise.
No forward-looking statement can be guaranteed and actual
results may differ materially from those we project. The Company's
results may be affected by our ability to successfully market both
new and existing products domestically and internationally,
clinical and regulatory developments (domestic or foreign)
involving current and future products, sales growth of recently
launched products, competition from other products (domestic or
foreign) and difficulties or delays in manufacturing our products.
In addition, sales of our products are affected by reimbursement
policies imposed by third-party payers, including governments,
private insurance plans and managed care providers and may be
affected by regulatory, clinical and guideline developments and
domestic and international trends toward managed care and health
care cost containment as well as U.S. legislation affecting
pharmaceutical pricing and reimbursement. Government and others'
regulations and reimbursement policies may affect the development,
usage and pricing of our products. Furthermore, our research,
testing, pricing, marketing and other operations are subject to
extensive regulation by domestic and foreign government regulatory
authorities. We, or others, could identify safety, side effects or
manufacturing problems with our products after they are on the
market. Our business may be impacted by government investigations,
litigation and product liability claims. Further, while we
routinely obtain patents for our products and technology, the
protection offered by our patents and patent applications may be
challenged, invalidated or circumvented by our competitors. We
depend on third parties for a significant portion of our
manufacturing capacity for the supply of certain of our current and
future products and limits on supply may constrain sales of certain
of our current products and product candidate development. In
addition, we compete with other companies with respect to some of
our marketed products as well as for the discovery and development
of new products. Discovery or identification of new product
candidates cannot be guaranteed and movement from concept to
product is uncertain; consequently, there can be no guarantee that
any particular product candidate will be successful and become a
commercial product. Further, some raw materials, medical devices
and component parts for our products are supplied by sole
third-party suppliers. Our business performance could affect or
limit the ability of our Board of Directors to declare a dividend
or our ability to pay a dividend or repurchase our common
stock.
CONTACT: Amgen, Thousand
Oaks
Ashleigh Koss, 805-313-6151
(media)
Arvind Sood, 805-447-1060
(investors)
(Logo: http://photos.prnewswire.com/prnh/20081015/AMGENLOGO)
SOURCE Amgen