MCK · 10-Q · 2026Q2 · Full report
Capital Return Program
MCKESSON CORP · 2026-08-05 · Importance 46 · Surprise 42 · No source text
McKesson returned $2.6 billion of cash to shareholders during the three months ended June 30, 2026. Common-stock repurchases totaled $2.5 billion, including a $2.3 billion March accelerated share repurchase completed at an average $820.04 per share and a $2.3 billion May accelerated share repurchase initiated with an estimated 2.5 million shares at $754.68 per share. The Board authorized an additional $5.0 billion repurchase capacity on April 29, 2026, leaving $5.2 billion available at June 30, 2026. Dividend payments totaled $102 million during the quarter, and the quarterly dividend was increased from $0.82 to $0.94 per share effective with the July 21, 2026 declaration.
Key facts
- On April 29, 2026, the Board of Directors approved the Company to repurchase up to an additional $5.0 billion of common stock. source
- On April 29, 2026, the Board approved repurchase of up to an additional $5.0 billion of common stock. source
- Financing activities for the three months ended June 30, 2026 included $2.5 billion of cash paid for share repurchases and $102 million of cash paid for dividends; for the three months ended June 30, 2025 included $581 million of cash paid for share repurchases and $90 million of cash paid for dividends. source
- Total remaining authorization outstanding for repurchases of the Company's common stock at June 30, 2026 was $5.2 billion. source
- Balance at March 31, 2026 for remaining repurchase authorization was $2,719 million before the April 2026 Board Authorization of $5,000 million, resulting in a balance at June 30, 2026 of $5,175 million shown in the repurchase table. source
- The May 2026 ASR program: Company entered into an ASR to repurchase $2.3 billion of common stock; average price paid per share and total number of shares purchased are estimates and may differ upon final settlement in Q2 fiscal 2027. source
- Balance at June 30, 2026 for 'Approximate Dollar Value of Shares that May Yet Be Purchased Under the Programs': $5,175 million. source
- During the three months ended June 30, 2026, the Company returned $2.6 billion of cash to shareholders through $2.5 billion of common stock repurchases and $102 million of dividend payments. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -4.8% | On April 29, 2026, the Board of Directors approved the Company to repurchase up to an additional $5.0 billion of common stock. |
| cash | negative | realized | -2.9% | During the three months ended June 30, 2026, the Company returned $2.6 billion of cash to shareholders through $2.5 billion of common… |
| cash | negative | realized | -2.8% | Financing activities for the three months ended June 30, 2026 included $2.5 billion of cash paid for share repurchases and $102 million of… |
| cash | negative | committed | -2.2% | The May 2026 ASR program: Company entered into an ASR to repurchase $2.3 billion of common stock; average price paid per share and total… |
| cash | positive | realized | +1.9% | Net cash provided by financing activities for the three months ended June 30, 2026: $1,632 million; for the three months ended June 30,… |
| cash | negative | realized | -0.1% | Financing activities for the three months ended June 30, 2026 included $2.5 billion of cash paid for share repurchases and $102 million of… |
| liability | negative | realized | -0.0% | Excise taxes accrued for shares repurchased: $25 million for the three months ended June 30, 2026 and $2 million for the three months… |
| cash | negative | committed | — | On July 21, 2026, the Board raised the quarterly dividend from $0.82 to $0.94 per share of common stock. |