Our results and our actions clearly demonstrate our commitment to increasing share owner value. We continue to create value through increased dividends instituting a 23% increase earlier this year with a three-year compounded annual dividend growth of 22%. In addition, in 2011 we completed a $1 billion share repurchase program which started in late 2010 and this year, we then began a second $1 billion share repurchase program with a goal of at least $600 million in repurchases by the end of 2012.
Through these initiatives as well as the cash distribution from the 2010 transaction, we will have returned at least $5.5 billion to share owners by the end of 2012 which clearly demonstrates our focus on driving share owner value. At the core of this growth is a focused approach to our business. For more than five years, our work has been guided by a single global operating framework which creates a clear vision, clear priorities and clear financial objectives.
Our plans and our actions regarded by three strategic priorities, first to be a clear number one or a strong number two in very category where we chose to compete. Second to be customers' most valued supplier and third to create a winning inclusive culture that attracts, develops and retains a highly talented workforce.
For those of you who follow our company closely, these priorities are very familiar. Yet they are absolutely essential to our success as we continue to drive consistent long-term profitable growth. Clearly our primary focus is to drive sustainable value building growth. Now let's discuss the strategies and the initiatives that are at the very heart of that growth and that will enable us to continue to deliver value for stake owners.Read the rest of this transcript for free on seekingalpha.com