This content is from: Innovation

GSK To Repurchase £2B Of Shares

GlaxoSmithKline will repurchase shares worth nearly £2 billion in 2011.

GlaxoSmithKline(GSK)will repurchase shares worth nearly £2 billion in 2011, Financial Times reports. The share buy-back program is a part of the company’s longer-term commitment to return cash to investors.

GSK was expected to postpone the repurchase program until 2012. The U.K. pharmaceutical group, which has raised its full-year dividend up to 7%, saw a fall in its annual pre-tax profits by more than £4.7 billion.

Click here for the story from Financial Times.

Click here for additional coverage from Reuters.

Related Content