Blood products group CSL has launched a $1 billion share buyback just after completing another a $950 million on-market buyback.
Its previous buyback, announced a year ago, contributed to a 22.7% boost in earnings per share.
At the AGM today, chairman John Shine announced a further on-market buyback of up to $1 billion over the next 12 months.
Total dividends for the year were $US1.24 a share, a rise of 10% in US dollar terms.
Shine says the company is trading consistent with expectations at the the end of the first quarter of the financial year.
CSL, the second largest flu vaccine company in the world, in August posted a 6% rise in full year profits to $US1.38 billion.
CSL shares were trading flat at $88.91, well below their $100 high this year.