Getting your Trinity Audio

More Top Picks Best Insulated Lunch Boxes For Men

player ready...

Abbott Laboratories on Thursday authorized a $3 billion share buyback plan aimed at boosting returns for shareholders.

The Lake County based health care company, which in the past has been aggressive in repurchasing its own stock, said the amount comes in addition to $511 million that remains unused from a program announced in June 2013.

Abbott also declared a quarterly dividend of 22 cents per share payable Nov. 15 to shareholders of record as of Oct. 15.

Shares rebounded slightly on news of the buyback, but remained down 38 cents, or 0.9 percent, at $42.52 in afternoon trading.

[email protected]

|