May 3, 2023

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STERIS plc, a leading provider of infection prevention and sterilization products and services, announced on Tuesday that its Board of Directors has authorized a new share repurchase program of up to $500 million of the Company's ordinary shares. This move is expected to support long-term shareholder value while reflecting the Company's strong financial position and cash generation capability.

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Share Repurchase Program Details

Under the new share repurchase program, STERIS may repurchase shares from time to time through open market transactions, including 10b5-1 plans. This gives the company flexibility to execute buybacks at opportune times and prices. The repurchase program may be suspended or discontinued at any time.

STERIS's share buyback program is a positive signal for investors. By reducing the number of outstanding shares, the company increases the ownership stake of existing shareholders, potentially boosting earnings per share and shareholder value.

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Quarterly Dividend Payment Details

In addition to the share repurchase program, STERIS also announced a quarterly interim dividend payment of $0.47 per share. The dividend is payable on June 28, 2023, to shareholders of record at the close of business on June 14, 2023.

Dividend payments are a way for companies to share their profits with their shareholders. This announcement signals the Company's commitment to returning cash to shareholders while maintaining a strong financial position.

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Members of LevelFields received the alert of this event on May 3, 4:55 PM ET

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