Cardinal Health (CAH) , a global provider of products and services that improve the safety and productivity of health care, today announced its board of directors has approved a 3-cent-per share increase to the company’s quarterly dividend and elected Gregory B. Kenny as director.
At a meeting on May 2, the board approved an increased quarterly dividend to $0.12 per share payable on July 15 to shareholders of record on July 1. Cardinal Health has paid a 9-cents-per-share quarterly dividend since July 15, 2006.
The increase supportsÂ the longer-term goals that were stated earlier this year by the comapny to return up to 50 percent of operating cash flow to shareholders and to increase its dividend payout to up to 20 percent of earnings per share during the next several years.
Cardinal Health’s goals are congruent with Dividend Money’s mandate to search out companies that seek to increase shareholder yield over the long term.Â Not to mention thatÂ I certainly like the business of health care on a go forward basis!
The dividend is the 91st consecutive regular quarterly dividend for Cardinal Health.