Agilent Technologies Authorizes New Share Repurchase Program and Increases Quarterly Dividend
SANTA CLARA, Calif., Jan. 17, 2013
Agilent Technologies Inc. (NYSE: A) today announced that its board of directors has authorized the repurchase of up to $500 million of the company's common stock during fiscal 2013. The new repurchase authorization replaces Agilent's existing stock repurchase program, which authorized the repurchase of shares to reduce or eliminate share dilution from equity programs.
The board has also authorized a 20 percent increase in the quarterly dividend, from $0.10 to $0.12 per share, beginning in the second quarter of 2013. The second quarter dividend will be paid on April 24 to all stockholders of record as of the close of business on April 2.
Agilent CEO Bill Sullivan said, "Today's announcement of the stock repurchase program and increased quarterly dividend reflects our confidence in Agilent's future cash generation capabilities and our commitment to return capital to shareholders."
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is the world's premier measurement company and a technology leader in chemical analysis, life sciences, diagnostics, electronics and communications. The company's 20,500 employees serve customers in more than 100 countries. Agilent had net revenues of $6.9 billion in fiscal 2012. Information about Agilent is available at www.agilent.com.
This news release contains forward-looking statements as defined in the Securities Exchange Act of 1934 and is subject to the safe harbors created therein. The forward-looking statements contained herein include, but are not limited to, the company's plans regarding its stock repurchase program and dividend program. These forward-looking statements involve risks and uncertainties that could cause Agilent's results to differ materially from management's current expectations. For example, the execution of the stock repurchase and dividend program will depend on factors such as the stock price, economic and market conditions, and corporate and regulatory requirements, which factors could cause actual amounts repurchased or declared, as the case may be, to be less than currently anticipated. Also, the timing and amounts of future dividends are subject to approval by Agilent's board of directors. Agilent's risks and uncertainties are detailed in Agilent's filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended Oct. 31, 2012. Forward-looking statements are based on the beliefs and assumptions of Agilent's management and on currently available information. Agilent undertakes no responsibility to publicly update or revise any forward-looking statement.
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