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Bristol Myers Squibb raises quarterly dividend and adds $15 billion to share buyback program

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Bristol Myers Squibb Co. shares
BMY,
-2.05%

rose 2% in premarket trade Monday, after the company announced a 10.2% increase in its quarterly dividend and added $15 billion to its share buyback authorization. The new dividend of 54 cents a share will be payable Feb. 1, 2022 to shareholders of record as of Jan. 7. The company also declared a quarterly dividend of 50 cents a share for its $2.00 convertible preferred stock, payable March 1 to shareholders of record as of Feb. 1. The new share buyback authorization increases the current amount to about $15.2 billion. Shares are down 9% in the year to date, while the S&P 500
SPX,
+0.95%

has gained 25%.

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