McKesson 2013 Annual Report Download - page 105

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99
McKESSON CORPORATION
FINANCIAL NOTES (Continued)
In addition, the Company has been designated as a PRP under the Superfund law for environmental assessment and
cleanup costs as the result of its alleged disposal of hazardous substances at 14 sites. With respect to these sites, numerous
other PRPs have similarly been designated and while the current state of the law potentially imposes joint and several liability
upon PRPs, as a practical matter, costs of these sites are typically shared with other PRPs. At one of these sites, the United
States Environmental Protection Agency has selected a preferred remedy with an estimated cost of approximately $70
million. It is not certain at this point in time what proportion of this estimated liability will be borne by the Company or by the
other PRPs. Accordingly, the Company's estimated probable loss at those 14 sites is approximately $19 million, which has
been entirely accrued for in the accompanying consolidated balance sheets, however, it is possible that the ultimate costs of
these matters may exceed or be less than the reserves.
V. Other Matters
The Company is involved in various other litigation and governmental proceedings, not described above, that arise in the
normal course of business. While it is not possible to determine the ultimate outcome or the duration of any such litigation or
governmental proceedings, the Company believes, based on current knowledge and the advice of counsel, that such litigation
and proceedings will not have a material impact on the Company's financial position or results of operations.
23. Stockholders’ Equity
Each share of the Company's outstanding common stock is permitted one vote on proposals presented to stockholders
and is entitled to share equally in any dividends declared by the Company's Board of Directors (the “Board”).
In April 2011, the quarterly dividend was raised from $0.18 to $0.20 per common share for dividends declared after such
date, until further action by the Board. Dividends were $0.80 per share in 2013 and 2012, and $0.72 per share in 2011. The
Company anticipates that it will continue to pay quarterly cash dividends in the future. However, the payment and amount of
future dividends remain within the discretion of the Board and will depend upon the Company's future earnings, financial
condition, capital requirements and other factors.
Share Repurchase Plans
Stock repurchases may be made from time-to-time in open market transactions, privately negotiated transactions, through
accelerated share repurchase (“ASR”) programs, or by any combination of such methods. The timing of any repurchases and
the actual number of shares repurchased will depend on a variety of factors, including our stock price, corporate and
regulatory requirements, restrictions under our debt obligations and other market and economic conditions.