Dividends
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Stryker (SYK) Modifies Dividend Schedule to Quarterly, Declares $0.10 Dividend
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Stryker Corporation (NYSE: SYK) announced today that its Board of Directors has modified its dividend policy to adopt a quarterly payment schedule in lieu of an annual dividend.
In conjunction with this modification, the Company's Board of Directors has declared a cash transition dividend of $0.10 per share, payable December 16, 2009, to shareholders of record at the close of business on November 18, 2009. The ex-dividend date is November 16, 2009.
The transition dividend will increase the total dividends paid in 2009 to $0.50 per share, up 52% from the $0.33 per share paid in 2008. Subject to further action by the Company's Board of Directors, the Company anticipates the first quarterly dividend to be paid in January 2010 at a targeted quarterly rate of $0.15 per share.
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