Covidien plans another mammoth buy-back
This article was originally published in Clinica
Less than two years after launching a substantial $2 billion share repurchase programme, Covidien's board has authorised another $3 billion buy-back. The previous programme, started in August 2011 (www.clinica.co.uk, 12 August 2011), currently has around $425 million remaining, the firm said. Covidien is currently well above its stated annual goal of returning at least 50% of free cash flow to shareholders: in 2012, this totalled $1.75 billion, or nearly 100%.