DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE:BAX) today announced a quarterly
dividend and an expanded authorization for its share repurchase program.
The Board of Directors of Baxter has declared a quarterly cash dividend
of $0.13 per common share, payable on January 3, 2017 to shareholders of
record as of December 2, 2016. The indicated annual dividend rate is
$0.52 per share.
Baxter’s Board of Directors also has approved a $1.5 billion increase in
authorization for the company’s existing share repurchase plan. The
share repurchase plan, which was originally approved in July 2012, now
has approximately $1.9 billion of repurchase authority under the amended
plan. Shares will be repurchased in the open market at times and amounts
determined by the company based on its evaluation of market conditions
and other factors.
''These actions reflect our commitment to returning meaningful value to
shareholders while also balancing reinvestment in the business to drive
long-term, sustainable growth,'' said Jay Saccaro, Baxter’s chief
Baxter provides a broad portfolio of essential renal and hospital
products, including home, acute and in-center dialysis; sterile IV
solutions; infusion systems and devices; parenteral nutrition;
biosurgery products and anesthetics; and pharmacy automation, software
and services. The company’s global footprint and the critical nature of
its products and services play a key role in expanding access to
healthcare in emerging and developed countries. Baxter’s employees
worldwide are building upon the company’s rich heritage of medical
breakthroughs to advance the next generation of healthcare innovations
that enable patient care.
This release includes forward-looking statements concerning Baxter's
dividend and share repurchase authorization. The statements are based on
assumptions about many important factors, including the following, which
could cause actual results to differ materially from those in the
forward-looking statements: continued strength in the company’s
financial position, including cash flows; future decisions of the board
of directors of the company to continue payments to shareholders in the
form of the repurchase of shares and the payment of a dividend on a
quarterly or other basis relative to alternative uses of funds; and
other risks identified in the company's most recent filing on Form 10-K
and other SEC filings, all of which are available on Baxter’s website.
Baxter does not undertake to update its forward-looking statements.