Zimmer Holdings Inc. (NYSE and SIX: ZMH), a global leader in musculoskeletal care, announced that its board of directors has approved the payment of a quarterly dividend to stockholders for the fourth quarter of 2013. Zimmer’s board of directors also has authorized a new share repurchase program effective Jan. 1, 2014.The cash dividend of 20 cents per share will be paid on or about Jan. 31, to stockholders of record as of the close of business on Dec. 27. The dividend represents an annual dividend rate of 80 cents per share. Future declarations of dividends are subject to approval of the board of directors and may be adjusted as business needs or market conditions change.

The new share repurchase program authorizes purchases of up to $1.0 billion of the company’s common stock with no expiration date. After Dec. 31, no further purchases will be made under the existing share repurchase program, which authorized purchases through Dec. 31, 2014.