Baxter (BAX) Declares $0.16 Quarterly Dividend, 1% Yield; Boosts Share Buyback by $1.5B to $2.3B

Baxter (NYSE: BAX) declared a quarterly dividend of $0.16 per share, or $0.64 annualized.

The dividend will be payable on April 2, 2018, to stockholders of record on March 2, 2018, with an ex-dividend date of March 1, 2018.

The annual yield on the dividend is 1 percent.

Share Buyback Increase

Baxter’s Board of Directors also has approved a $1.5 billion increase in authorization for the company’s existing share repurchase plan. Based on these actions, the share repurchase plan has approximately $2.3 billion of repurchase authority available as of the date hereof to make repurchases pursuant to existing Rule 10b5-1 plans or otherwise. Shares will be repurchased in the open market or through private transactions at times and amounts determined by the company based on its evaluation of market conditions and other factors.

“Over the last two years, Baxter has significantly improved its cash generation, allowing the company to enhance investments in the business to drive growth while also returning capital to shareholders through increased dividends and share repurchases,” said Jay Saccaro, Baxter’s chief financial officer.

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

You May Also Be Interested In

• W. R. Berkley declares special dividend, raises quarterly payout 11.1%
• HGV announces secondary offering by Apollo affiliates, concurrent buyback
• McGrath Rentcorp (MGRC) Declares $0.495 Quarterly Dividend; 1.9% Yield