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DUBLIN, Ohio, May 4, 2016 /PRNewswire/ -- Cardinal Health today announced that its board of directors approved a 16 percent increase in the company's quarterly dividend to $0.4489 per share, or $1.80 per share on an annualized basis. The quarterly dividend is payable on July 15, 2016, to shareholders of record at the close of business on July 1, 2015.    

The board of directors also approved a new authorization to repurchase up to $1 billion of Cardinal Health common shares, which will expire on Dec. 31, 2019.  The new share repurchase program is in addition to the program approved in August 2014, of which $393 million remains available.

About Cardinal Health
Cardinal Health, Inc. (NYSE: CAH), a global health services and products company, brings scaled solutions that help our customers thrive in a changing world. We improve the cost-effectiveness of healthcare through solutions that improve the efficiency of the supply chain; optimize the process and performance of healthcare; provide clinically proven, daily use medical products and pharmaceuticals; and connect patients, providers, payers, pharmacists and manufacturers for seamless care coordination and better patient management. Backed by nearly 100 years of experience, we rank among the top 50 on the Fortune 500 and among the Fortune Global 100.  We support our partners with more than 37,000 employees in nearly 60 countries worldwide. For more information, visit cardinalhealth.com and @CardinalHealth on Twitter.

SOURCE Cardinal Health