Schering-Plough announces quarterly stock dividends

Schering-Plough’s board of directors has announced a quarterly dividend of 6.5 cents (0.04p) per share of common stock.

The payment will be made on November 30th to shareholders of record at the end of business on October 26th.

Additionally, the firm’s board declared a quarterly dividend of $3.75 per share on its 2007 Mandatory Convertible Preferred Stock. The payment will be made on November 16th to holders of record at the end of business on November 2nd.

In a statement in recent days, the company explained that as of June 30th, there were a total of 1,633,938,697 common shares outstanding.

Additionally, Schering-Plough noted that there are presently a total of ten million shares of the 2007 Mandatory Convertible Preferred Stock outstanding.

Earlier this month, the firm announced that Craig Thompson, Patricia Russo and Robert Kidder are expected to remain members of the board of directors after the merger of Merck and Schering-Plough is completed.