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AmerisourceBergen announces 2-1 split

Drug distributor AmerisourceBergen Corp. announced a 2-for-1 stock split today, reaffirmed its financial outlook for the year, and said it would boost its dividend by 20 percent.

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VALLEY FORGE - Drug distributor AmerisourceBergen Corp. announced a 2-for-1 stock split today, reaffirmed its financial outlook for the year, and said it would boost its dividend by 20 percent.

The company said it will distribute new shares June 15 to stockholders of record as of May, 29, bringing the total of common shares outstanding to roughly 301.5 million.

The new dividend will total 6 cents per share after the split.

AmerisourceBergen also said it still expects fiscal 2009 earnings per share from continuing operations to range between $3.18 and $3.30, or $1.59 to $1.65 accounting for the stock split.

Analysts expect earnings of $3.26 per share for the year, according to a Thomson Reuters survey.

The company expects revenue to grow 1 percent to 3 percent. Its fiscal year ends in September.

AmerisourceBergen shares were trading early this afternoon at $36.02, up 44 cents (1.24 percent).