VALLEY FORGE, Pa. (AP) -- Prescription drug distributor AmerisourceBergen Corp. said Thursday that its board has approved a new $750 million buyback.
The company said it completed its prior $750 million repurchase program.
It currently has about 250.8 million outstanding shares.
AmerisourceBergen has spent $500 million on buybacks for the fiscal year to date and previously said it expected to buy back $500 million shares in fiscal 2012.
The Valley Forge, Pa., company also declared a dividend of 13 cents per share. The dividend will be paid on June 4 to shareholders of record on May 21.
Shares of AmerisourceBergen gained 67 cents, or 1.9 percent, to $36.68 in afternoon trading. It has been trading near the lower end of its 52-week range of $34.33 to $43.37.