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

Bristol Myers Squibb Co. shares BMY, -2.05% roseate 2% successful premarket commercialized Monday, aft the institution announced a 10.2% summation successful its quarterly dividend and added $15 cardinal to its stock buyback authorization. The caller dividend of 54 cents a stock volition beryllium payable Feb. 1, 2022 to shareholders of grounds arsenic of Jan. 7. The institution besides declared a quarterly dividend of 50 cents a stock for its $2.00 convertible preferred stock, payable March 1 to shareholders of grounds arsenic of Feb. 1. The caller stock buyback authorization increases the existent magnitude to astir $15.2 billion. Shares are down 9% successful the twelvemonth to date, portion the S&P 500 SPX, +0.95% has gained 25%.