CAH · 10-Q · 2026Q3 · Full report

Capital Allocation

CARDINAL HEALTH INC · 2026-11-05 · Importance 58 · Surprise 42 · In source text

During the three months ended September 30, 2026, Cardinal Health used $500 million for share repurchases, $157 million for capital expenditures, $149 million for acquisitions, and $126 million for dividends. The $500 million repurchase was made through an accelerated share repurchase program that concluded September 18, 2026, with 2.2 million shares purchased. The Board approved a new $5.0 billion share repurchase program on August 4, 2026; $5.9 billion remained authorized under the company’s programs at September 30, 2026. The quarterly dividend was $0.5158 per share, or $2.06 annualized, and quarterly capital expenditures rose to $157 million from $108 million a year earlier.

Key facts

• Cardinal Health's June 7, 2023 share repurchase program authorized $3.5 billion and was set to expire December 31, 2027; on August 4, 2026, the Board approved a new $5.0 billion program. source
• As of September 30, 2026, Cardinal Health had $5.9 billion authorized for share repurchases remaining under its programs. source
• Cardinal Health's Board approved quarterly dividends of $0.5158 per share on May 5 and August 4, 2026, equal to $2.06 per share annualized; they were paid July 15 and October 15 to shareholders of record July 1 and October 1, respectively. source
• Capital expenditures were $157 million for the three months ended September 30, 2026, compared with $108 million in the same period of 2025. source
• Cardinal Health entered into an ASR program on August 12, 2026, to repurchase common shares for $500 million and initially received 1.7 million shares using a $234.16 reference price. source
• The ASR program concluded on September 18, 2026, at a $231.63 volume-weighted average price per common share, with a final delivery of 0.5 million shares. source
• During the three months ended September 30, 2026, Cardinal Health deployed $500 million for share repurchases, $157 million for capital expenditures, $149 million for acquisitions, and $126 million for dividends. source
• Cardinal Health deployed $500 million for common-share repurchases under an accelerated share repurchase program during the three months ended September 30, 2026, funded with available cash. source

Impact estimates