Henry Schein expands stock repurchase programme

Henry Schein has announced plans to buy back additional shares under its stock repurchase programme.

The dental supplies manufacturer's board of directors has authorised the repurchase of up to $200 million (124.15 million pounds) in shares of common stock, in addition to the $200 million programme announced in August 2011.

Approximately 89.9 million shares in Henry Schein were reported as outstanding on December 31st, with the new authorisation representing approximately three percent of outstanding shares at the current stock price.

This comes after a 2011 fiscal year in which the business generated free cash flow of approximately $510 million.

Stanley Bergman, chairman and chief executive officer of Henry Schein, said: "Our board has determined that buying back additional shares represents an attractive investment and is an appropriate means to continue building shareholder value."

Henry Schein was also able to surpass the $8.5 billion mark in terms of annual sales last year.