Henry Schein expands share repurchase plan

Henry Schein's board of directors has authorised the repurchase of up to $400 million (265.68 million pounds) of shares of the company's common stock.

This expansion of the firm's share repurchasing strategy builds on the $300 million repurchase programme announced in December 2014, which currently has approximately $25 million remaining authorised for future repurchases.

Henry Schein had approximately 83 million shares outstanding as of October 26th 2015, with the new authorisation representing approximately three percent of shares outstanding at the current stock price.

According to the company, this demonstrates its long-term commitment to increasing shareholder value, while reflecting its confidence in its business prospects.

Stanley Bergman, chairman of the board and chief executive officer of Henry Schein, said: "We are pleased that Henry Schein's strong balance sheet provides us with the financial flexibility to return capital to our shareholders, while also making investments in our company that capitalise on future growth opportunities."

The company achieved record-breaking results for the third quarter of 2015 and expects growth of ten to 12 percent in adjusted diluted earnings terms in 2016.