DEERFIELD, Ill., Nov. 28 /PRNewswire-FirstCall/ -- The board of directors of Baxter International Inc. today declared a regular annual dividend of $0.582 per share of Baxter common stock, and the company announced modifications to its current dividend policy.
The annual dividend is payable on January 5, 2007, to shareholders of record as of the close of business on December 8, 2006. This dividend declaration is a continuation of the current annual rate. Beginning in 2007 and subject to further board action, the company anticipates moving to a quarterly payment schedule at a targeted quarterly rate of $0.15 per share, which on an annual basis represents a 3 percent increase over the current annual dividend rate. The first quarterly payment is expected in the second quarter of 2007.
“We are pleased with the significant progress we have made in improving Baxter’s financial position and generating strong cash flow,” said Robert L. Parkinson, Jr., chairman, chief executive officer and president. “This provides us with flexibility to return value to our shareholders through continued investments in our business, our share repurchase program and dividend policy.”
Baxter International Inc., through its subsidiaries, assists healthcare professionals and their patients with the treatment of complex medical conditions, including hemophilia, immune disorders, cancer, infectious diseases, kidney disease, trauma and other conditions. The company applies its expertise in medical devices, pharmaceuticals and biotechnology to make a meaningful difference in patients’ lives.
This release includes forward-looking statements concerning the company’s dividend. 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 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-Q and other SEC filings, all of which are available on the company’s website. The company does not undertake to update its forward- looking statements.
Baxter International Inc.
CONTACT: Media, Deborah Spak, +1-847-948-2349, or Tom Kline,+1-847-948-2251, or Investors, Mary Kay Ladone, +1-847-948-3371, or ClareTrachtman, +1-847-948-3085, all of Baxter International Inc.
Web site: http://www.baxter.com/
