Idexx Labs Announces 2-for-1 Stock Split, Boosts Share Buy-back - Quick Facts

(RTTNews) - IDEXX Laboratories, Inc. (IDXX) announced that its Board of Directors approved a two-for-one split of its outstanding common stock, effected in the form of a 100% common stock dividend.

Stockholders of record as of the close of business on May 18, 2015 will be issued one additional share for each share of common stock held on such date. The distribution will be made on or about June 15, 2015, with the trading on a post-split basis to take place on the business day following the distribution date.

The full year 2015 outlook provided on April 28 as part of the IDEXX earnings release projected an earnings per share range of $4.14 to $4.24, which will now equate to $2.07 to $2.12 on a post-split basis.

The Board of Directors also authorized the repurchase of up to an additional 8.0 million shares of its common stock under its ongoing share repurchase program. This is in addition to the 2.2 million shares remaining under the Company's share repurchase program as of April 30, 2015.

The increase in the share repurchase authorization will be effective on June 15, 2015 after distribution of the stock dividend.