Baxter (BAX) Declares $0.13 Quarterly Dividend; Adds $1.5B to Stock Buyback Authorization

November 8, 2016 8:51 AM EST

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Baxter (NYSE: BAX) declared a quarterly dividend of $0.13 per share, or $0.52 annualized.

The dividend will be payable on January 3, 2017, to stockholders of record on December 2, 2016, with an ex-dividend date of November 30, 2016.

The annual yield on the dividend is 1.1 percent.

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 financial officer.

For a dividend history and other dividend-related data on Baxter (BAX) click here.

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