29 Nov2013
Novartis to give $5 bn in share buyback programme
Novartis is going to dole out $5 billion to its share holders as a part of a buyback programme. The firm is carrying out a broad review of operations and would allocate capital to the share buyback over two years
The buyback is part of a $10 billion programme authorized by investors in 2008
Novartis has offered investors $5 billion through a share buyback programme, signaling a sharper focus on shareholder rewards. The firm is carrying out a broad review of operations and would allocate capital to the share buyback over two years as well as to a strong and growing dividend and to “bolt-on” or relatively small acquisitions.
