CINCINNATI (AP) -- Omnicare is raising its quarterly dividend by 43 percent to 20 cents per share from 14 cents per share.
The dividend will be paid Dec. 24 to shareholders of record Dec. 16.
The company, which dispenses prescription drugs in nursing homes, also said Thursday that its board approved the repurchase of an additional $500 million shares of its common stock through Dec. 31, 2015. Omnicare Inc. has bought back 4.2 million shares for $220 million for the year to date.
Shares of the Cincinnati company added 65 cents to $58.20 in afternoon trading.