FMC Corporation Authorizes $250 Million of Share Repurchases

PRNewswire reports that FMC Corporation’s Board of Directors has authorized the repurchase of up to an additional $250 million of the company''s common shares. The company''s Board also declared a regular quarterly dividend of 15 cents per share, payable on April 21, 2011, to shareholders of record at the close of business on March 31, 2011. This represents an increase of 2.5 cents per share, or 20 percent, over the dividend declared on December 17, 2010. The new $250 million share repurchase program supplements the existing program, announced on April 24, 2007, under which approximately $55 million of authority remains. In the quarter ended December 31, 2010, the company repurchased approximately $135 million of its common shares. Although the share repurchase program does not include a specific timetable or price targets and may be suspended or terminated at any time, the company expects that the program will be accomplished over the next two years.