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May 25, 2013 -- Updated December 15, 2012 15:41 HKT

Amgen NASDAQ:AMGN Ready to Rally


paul@livetradingnews.com
Posted on: Dec 17th, 2012

Amgen NASDAQ:AMGN boost dividend, adds to share buy back, appoints new Chairman

LMT, MAT

After the close Thursday Amgen announced a 31% increase in the company’s Quarterly dividend, beginning in Q-1 of Y 2013, from 0.36 to 0.47.

Next, the company boosted its share buyback plan by $2-B, on top of the approximately $500-M left in Amgen’s existing $10-B share repurchase program. The additional money is expected to fund stock buybacks into Y 2014. Amgen said it expects to fund both the dividend increase and the share buyback program from cash on hand in the United States and US free cash flow.

Then, Amgen named a new Chairman of its board of directors, Robert A. Bradway, the company’s current CEO. Mr. Bradway is finance bred, he joined the company in Y 2006 and served as CFO from Ys 2007 to 2010. He has been Amgen’s CEO since May.

Vance B. Coffman, a former executive at Lockheed Martin Corp. NYSE: LMT, was named as the company’s lead independent director.

Kevin Sharer will retire at the end of this month, and Robert A. Eckhart, former CEO of Mattel Inc. NASDAQ: MAT, has been appointed to the board beginning 1 January.

The Amgen board will now include 14 directors, 13 of whom are independent.

Analysis Overall Short Intermediate Long
Neutral (0.20) Neutral (0.22) Bullish (0.31) Neutral (0.06)

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Heffernan Capital Management
Linda Johnson,
Business Development Director – Private Client Group,
Sales@Heffcap.com

Singapore

3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699

 Paul A. Ebeling, Jnr.

Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.

Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.

 

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Posted by on Dec 17th, 2012and filed underEquities, Latest News, Paul Ebeling.You can follow any responses to this entry through theRSS 2.0You can skip to the end and leave a response. Pinging is currently not allowed.
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Guest: bztg, come on shane, lite this puppy up. been waiting too long lets go!!!

Tue, 04/30/13 | 0 Comment

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Guest: gsat get it now. if u snooze u lose

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