Schering-Plough Corporation Declares Quarterly Dividends on Common Shares and Mandatory Convertible Preferred Stock

KENILWORTH, N.J., June 23 /PRNewswire-FirstCall/ -- The Board of Directors of Schering-Plough Corporation today declared a quarterly dividend of 6.5 cents per common share. Payment will be made on Aug. 31, 2009, to shareholders of record at the close of business on August 7, 2009. As of March 31, 2009, there were 1,628,335,093 common shares outstanding.

The Board of Directors today also declared a quarterly dividend of $3.75 per share on the 2007 Mandatory Convertible Preferred Stock. Payment will be made on Aug. 17, 2009, to holders of record at the close of business on Aug. 3, 2009. There are currently 10 million shares of 2007 Mandatory Convertible Preferred Stock outstanding.

Schering-Plough is an innovation-driven, science-centered global health care company. Through its own biopharmaceutical research and collaborations with partners, Schering-Plough creates therapies that help save and improve lives around the world. The company applies its research-and-development platform to human prescription, animal health and consumer health care products. Schering-Plough's vision is to "Earn Trust, Every Day" with the doctors, patients, customers and other stakeholders served by its colleagues around the world. The company is based in Kenilworth, N.J., and its Web site is www.schering-plough.com.

CONTACT: Media: Fred Malley, Schering-Plough, +1-908-298-7428; Investors:
Janet M. Barth, or Joe Romanelli, +1-908-298-7436

Web site: http://www.schering-plough.com/

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