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PDCO > SEC Filings for PDCO > Form 8-K on 19-Mar-2013All Recent SEC Filings

Show all filings for PATTERSON COMPANIES, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for PATTERSON COMPANIES, INC.


19-Mar-2013

Other Events, Financial Statements and Exhibits


Item 8.01 Other Events

On March 15, 2013, Patterson Companies, Inc. (the "Company") entered into a stock repurchase plan established in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934, as amended (the "1934 Act"), in connection with its share repurchase program. A Rule 10b5-1 plan allows a company to repurchase its shares at times when it otherwise might be unable to do so under the 1934 Act's insider trading rules.

The Company's designated broker will have authority under the Company's 10b5-1 repurchase plan (the "Plan") to repurchase shares of the Company's common stock effective March 25, 2013 and expiring May 28, 2013 (the "Plan Period"), unless terminated earlier in accordance with the terms of the Plan. Because the repurchases under the Plan will be subject to specified parameters and certain price and volume restraints as established in the Plan, there is no guarantee as to the exact number of shares that will be repurchased, or that there will be any repurchases at all pursuant to the Plan.

On March 19, 2013, the Company's board of directors approved a new share repurchase plan that replaces the existing share repurchase plan. Under the new plan, up to 25 million shares may be repurchased in open market transactions through March 19, 2018. There were approximately 6.5 million shares available to be repurchased under the previous plan that has been replaced.

In addition, the board of directors approved an increase in the quarterly cash dividend to $0.16 per share from $0.14 per share, payable April 30, 2013 to shareholders of record as of the close of business on April 12, 2013.

A press release dated March 19, 2013 that describes the new share repurchase plan and the increase in the dividend was issued by the Company. A copy of this press release is furnished as exhibit 99 to this Current Report on Form 8-K and is incorporated herein by reference.



Item 9.01 Financial Statement and Exhibits

(d) Exhibits

99 Press release of Patterson Companies, Inc., dated March 19, 2013.


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