McKesson 2015 Annual Report Download - page 120

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McKESSON CORPORATION
FINANCIAL NOTES (Continued)
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.
24. 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 July 2013, the quarterly dividend was raised from $0.20 to $0.24 per common share for dividends declared
after such date, until further action by the Board. Dividends were $0.96 per share in 2015, $0.92 per share in 2014
and $0.80 per share in 2013. 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.
Information regarding the share repurchase activity over the last three years is as follows:
Share Repurchases (1)
(In millions, except price per share data)
Total
Number of
Shares
Purchased (2) (3)
Average Price
Paid Per Share
Approximate
Dollar Value of
Shares that May
Yet Be Purchased
Under the Programs
Balance, March 31, 2012 $ 299
Share repurchase plans approved:
April 2012 700
January 2013 500
Shares repurchased 13 $100.82 (1,159)
Balance, March 31, 2013 $ 340
Shares repurchased — $ — —
Balance, March 31, 2014 $ 340
Shares repurchased 1.5 $226.55 (340)
Balance, March 31, 2015 $—
(1) This table does not include shares tendered to satisfy the exercise price in connection with cashless exercises
of employee stock options or shares tendered to satisfy tax withholding obligations in connection with
employee equity awards.
(2) All of the shares purchased were part of the publicly announced programs.
(3) The number of shares purchased reflects rounding adjustments.
115