The Probiotec Limited(ASX: PBP)share price has pushed 9% higher to $1.43 after the manufacturer, marketer, and distributor of pharmaceutical products announced a special dividend and share buyback. According to the release, the company intends to commence an on-market buyback for up to 10% of the shares on issue in the middle of this month. In respect to its dividend, Probiotec has declared a fully franked special dividend of 5 cents per share. Its shares will go ex-dividend on November 8, with the dividend being paid a week later on November 15.
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