Agilent Technologies Authorizes New Share Repurchase Program and Increases Quarterly Dividend by 10 Percent
SANTA CLARA, Calif., Nov. 22, 2013
Agilent Technologies Inc. (NYSE: A) today announced that its board of directors has authorized a new share repurchase program, effective upon the conclusion of the company's existing $1 billion repurchase program. The new repurchase program is designed to reduce or eliminate dilution resulting from issuances of stock under the company's employee equity incentive programs to maintain a share count of approximately 335 million diluted shares.
The board has also authorized a 10 percent increase in the quarterly dividend to $0.132 per share. The dividend will be paid on Jan. 22, 2014, to all stockholders of record as of the close of business on Dec. 31, 2013.
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 20,600 employees serve customers in more than 100 countries. Agilent had revenues of $6.8 billion in fiscal 2013. Information about Agilent is available at www.agilent.com.
On Sept. 19, 2013, Agilent announced plans to separate into two publicly traded companies through a tax-free spinoff of its electronic measurement company. The separation is expected to be completed in early November 2014.
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 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 to be less than currently anticipated. Also, the new repurchase program does not require the company to acquire a specific number of shares, and may be suspended or discontinued at any time. Additionally, 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-Q for the fiscal quarter ended July 31, 2013. 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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