Henry Schein announces increase to share repurchase plan

Henry Schein's board of directors has authorised the repurchase of up to $300 million (183.67 million pounds) of shares of the company's common stock.

This programme comes in addition to the $300 million repurchase scheme announced last November and reflects the company's ongoing commitment to increasing value for shareholders.

As of December 10th 2013, Henry Schein's previous share repurchase programme has approximately $12.3 million remaining authorised for future repurchases. The new scheme represents around three percent of shares outstanding at the current stock price.

Purchases may either be made from time to time in the open market or through negotiated transactions.

Stanley Bergman, chairman of the board and chief executive officer of Henry Schein, said: "Our strong balance sheet provides us with the financial flexibility to return capital to shareholders, while continuing to invest in our business and maintaining our ability to capitalise on our growth opportunities."

Last month, the company made a new investment in BioHorizons, a US-based manufacturer of advanced dental implants sold internationally.