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Hillrom Declares Fiscal 2020 First Quarter Dividend, Announces Approval of Additional Share Repurchases
CHICAGO, Nov. 8, 2019 /PRNewswire/ -- Hillrom (NYSE: HRC) announced today that its board of directors declared a fiscal 2020 first quarter dividend of $0.21 per share payable on December 31, 2019, to shareholders of record as of the close of business on December 16, 2019. The indicated annual dividend rate is $0.84 per share.
Hillrom's board of directors also recently approved a $170 million expansion of its stock repurchase authorization. Based upon this action, the share repurchase plan had approximately $217.5 million of repurchase authority as of September 30, 2019. Shares will be repurchased in the open market or through private transactions at times and amounts determined by the company based on its evaluation of market conditions and other factors. The share repurchase authorization has no expiration date, and there is no change in the company's capital allocation strategy.
"With Hillrom's strong balance sheet and disciplined capital allocation strategy, we continue to prioritize investment in key strategic growth initiatives, utilizing share repurchases to offset dilution, and returning value to shareholders through dividends and share repurchases. In fiscal year 2019, we returned $177 million to shareholders through dividends and share repurchases," said Barbara Bodem, Hillrom's chief financial officer.
Hillrom is a global medical technology leader whose 10,000 employees have a single purpose: enhancing outcomes for patients and their caregivers by advancing connected care. Around the world, our innovations touch over 7 million patients each day. They help enable earlier diagnosis and treatment, optimize surgical efficiency and accelerate patient recovery while simplifying clinical communication and shifting care closer to home. We make these outcomes possible through connected smart beds, patient lifts, patient assessment and monitoring technologies, caregiver collaboration tools, respiratory care devices, advanced operating room equipment and more, delivering actionable, real-time insights at the point of care. Learn more at hillrom.com.
Mary Kay Ladone, Senior Vice President, Corporate Development, Strategy and Investor Relations
Lorna Williams, Executive Director, Investor Relations and Strategy
Howard Karesh, Vice President, Corporate Communications
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