Cardinal Health’s quarterly dividend increases 10%
DUBLIN, Ohio — Healthcare services company Cardinal Health announced that its board of directors has approved an increase in the company’s quarterly dividend to 21.5 cents per share, or 86 cents per share on an annualized basis.
The declared dividend marks a 10% increase above what the company has paid out since July 2010, and also marks the 107th consecutive regular quarterly dividend for Cardinal Health.
The regular quarterly dividend is payable on July 15 to shareholders of record on July 1.
McKesson reports Q4, fiscal-year results
SAN FRANCISCO — Sales at McKesson were $28.9 billion during fourth quarter 2011 and $112.1 billion for fiscal year 2011, according to financial results announced Tuesday.
Sales for the quarter represented an 8% increase over $26.6 billion in fourth quarter 2010, while sales for the year increased by 3% over 2010’s $108.7 billion.
Profits for the quarter were $422 million, a 21% increase over fourth quarter 2010, while profits for the year were $1.2 billion, a 5% decrease from fiscal year 2010’s $1.26 billion.
“Our fourth-quarter results wrapped up another solid full-year financial performance, driven by strong execution in Distribution Solutions,” McKesson chairman and CEO John Hammergren said. “I’m pleased that we exceeded our initial expectation for both earnings and cash flow.”
Revenues from Distribution Solutions increased by 8% for the quarter and 3% for the year, while U.S. pharmaceutical distribution revenues increased by 9% during the quarter due to market growth and the October 2010 purchase of U.S. Oncology.
Quality Care Pharmacies joins NCPA
ALEXANDRIA, Va. — The National Community Pharmacists Association’s membership has expanded to include a buying and advertising cooperative that offers rebates and signage to independently owned pharmacies.
Quality Care Pharmacies — a Springville, N.Y.-based company that boasts more than 450 member pharmacies in New York, New Jersey, Pennsylvania, Connecticut and Ohio — has joined NCPA, the association said.
“Community pharmacies, like the members of Quality Care Pharmacies, have been in business so long over the years because they are constantly adapting to satisfy the needs of their patients,” said Robert Greenwood, NCPA president and Iowa pharmacy owner. “Quality Care Pharmacies and NCPA agree that superior customer service and cost-saving medication counseling are the cornerstones of independent community pharmacy. We are proud to have them join us, and we look forward to working together to raise awareness about that standard.”
Added Quality Care Pharmacies executive director Robin Willmott, “NCPA’s relentless advocacy for community pharmacy is greatly appreciated by Quality Care Pharmacies. We look forward to our continued involvement with NCPA, on behalf of our members, in the years to come.”