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Agilent to Undertake $500M Share Repurchase, Increases Dividend

SAN DIEGO (GenomeWeb News) – Agilent Technologies today said that its board of directors has authorized the repurchase of up to $500 million of the firm's common stock during fiscal year 2013.

The company said that the new repurchase program replaces an existing stock repurchase program that had authorized the repurchase of shares to eliminate or reduce share dilution from equity programs.

Agilent finished its 2012 fiscal year on Oct. 31, 2012. It held $2.35 billion in cash and cash equivalents as of that date.

Agilent also said today that the board has authorized an increase in the firm's quarterly dividend to $.12 per share from $.10 per share. The dividend is payable on April 24 to shareholders of record as of the close of business on April 2.