Henry Schein announces new increase to share repurchase plan

Henry Schein has announced that its board of directors has authorised the repurchase of up to $400 million (295.94 million pounds) of shares of the company's common stock.

The new initiative comes in addition to the $400 million repurchase programme announced in October 2016, which has approximately $25 million in remaining shares authorised for future repurchases.

Henry Schein has taken this decision in light of its strong balance sheet and business prospects, which have given the company the financial flexibility to return capital to its shareholders.

Approximately 158 million Henry Schein shares were outstanding as of September 15th 2017, the date when shares began trading on a split-adjusted basis following a recently completed two-for-one stock split.

This new authorisation represents approximately three percent of shares outstanding at the current stock price.

Stanley Bergman, chairman of the board and chief executive officer of Henry Schein, said: "Henry Schein's share repurchase programme demonstrates our long-term commitment to create further value for our shareholders, and reflects our confidence in the long-term prospects of our business."

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