YORK, Pa. — DENTSPLY International Inc. (Nasdaq:XRAY) today announced that its Board of Directors has
increased the company's authorization to repurchase shares under its stock repurchase program. Under this program, the company may repurchase shares of company stock on the open market or in negotiated
transactions in an amount to maintain up to 34 million shares in Treasury, an increase in the repurchase authorization of 12 million shares. The company has repurchased just over two million shares thus far in 2011 and currently has 22 million shares of Treasury stock, completing its prior authorization level. The company has approximately 141 million shares of common stock outstanding.
Bret Wise, Chairman and Chief Executive Officer, stated, "The company's top priority continues to be investing in our business units and in synergistic acquisitions. However, this increase in the authorization today reflects the commitment of the Board of Directors and management to efficiently use the strength of the company's balance sheet and cash-flow, to enhance shareholder value."
There is no assurance that any shares will be repurchased by the company. Shares that are repurchased will be retired and will constitute authorized but unissued shares.
DENTSPLY designs, develops, manufactures and markets a broad range of professional dental products including dental implants, endodontic instruments and materials, orthodontic appliances, restorative materials, preventive materials and devices, and prosthetic materials and devices. To read more about DENTSPLY, visit www.dentsply.com.
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