NEW YORK (GenomeWeb News) – Thermo Fisher Scientific said after the close of the market Wednesday that its board of directors has approved a quarterly cash dividend, a first for the firm.
Thermo Fisher said that it will pay a cash dividend of $.13 per share on April 16 to shareholders of record as of the close of business on March 15.
"The decision by our board to incorporate a dividend into our capital deployment strategy is testament to our strong financial performance, consistent cash flow generation, and excellent growth opportunities," Thermo Fisher Scientific President and CEO Marc Casper said in a statement.
Last month at the JP Morgan Healthcare Conference, Casper had been asked whether the firm would consider such a dividend. He replied that he had been asked about such an option often over the past several months, but added that the decision would be made after thoughtful consideration and not as a reactionary move.
In previous years, Thermo Fisher used its cash to fund acquisitions and buy back its shares on the market. In November, the firm had announced a $750 million share repurchase program.
Last month, Agilent also said that it would pay out its first-ever cash dividend to shareholders on April 25.