The company is also on track to bring impending IPO of its animal unit Zoetis as part of its strategy to focus on non-core assets and we will look for updates on the progress.
Instead, the company is making a number of moves to boost shareholder value, among other things declaring an annual dividend of 50 cents a share, and opting to spin off its stake in its Covisint unit to holders following a pending IPO of that business.
Based on the IPO price, the trust's unit holders will receive distribution yields of about 5.6% for the year ending March 2014 and 6.1% for the following year.