On February 2, 2023 Quest Diagnostics Incorporated (NYSE: DGX), the world’s leading provider of diagnostic information services, reported the Company’s Board of Directors has authorized a 7.6% increase in its quarterly dividend from $0.66 to $0.71 per share (Press release, Quest Diagnostics, FEB 2, 2023, View Source [SID1234626787]). The increase is effective with the dividend payable on April 24, 2023 to shareholders of record of Quest Diagnostics common stock on April 10, 2023. With the increase, the annual dividend will be $2.84 per share. The company has raised its dividend annually since 2011.

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Additionally, the Board of Directors has increased the Company’s share repurchase authorization by $1 billion. The increased authority is in addition to the $311 million that was available as of December 31, 2022 under the Company’s share repurchase program.