Agilent approves $500M for buybacks, ups dividend
Agilent approves $500M for stock buybacks, lifts dividend 20 percent to 12 cents
SANTA CLARA, Calif. (AP) -- Agilent Technologies Inc. said Thursday that it is increasing its quarterly dividend 20 percent, to 12 cents, and may buy back up to $500 million of its common stock.
The new buyback program is for fiscal 2013, which runs through October. Buybacks can boost a company's earnings per share and offsets the impact of paying employees with stock.
The maker of scientific instruments previously paid a 10-cent dividend. The company will start paying the new dividend in April.
Shares of Agilent, which is based in Santa Clara, Calif., rose 57 cents, or 1.3 percent, to $43.62 in morning trading.
