GSK delivers strong Q3 performance with underlying sales growth of 6% and reported sales growth of 3%
EPS 28.5p +1% before major restructuring
Dividend +6% to 17p; 2011 share buyback expectations increased to up to £2.3 billion
Andrew Witty said
"The performance of the business and resulting cash generation is allowing us to continue to increase returns to shareholders. Today we have announced a further 6% increase in the dividend to 17p. In addition, our expectations for share repurchases this year have increased from around £2 billion to up to £2.3 billion. The process of divesting our non-core OTC brands continues and the brands are now being separated from the ongoing business. We are continuing to target a conclusion to the bidding process by the end of the year but we remain focused on delivering appropriate shareholder value as we review the options for this business."
