The Board of Directors of BD (NYSE: BDX) has declared a quarterly dividend of $0.87 per common share, an increase of 4.8% from the previous quarter. The dividend will be payable on Dec. 31, 2021 to holders of record on Dec. 10, 2021. The indicated annual dividend rate for fiscal year 2022 is $3.48 per share.

This dividend increase marks the 50th consecutive year and maintains BD's membership in the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends for at least 25 consecutive years.

The board has also authorized the company to repurchase up to 10 million shares of BD common stock. This new authorization is in addition to the approximately 750,000 shares that remain available under the board's previous authorization in 2013. The authorizations provide the company the ability to repurchase shares of its common stock through open market purchases, privately negotiated transactions or other methods. The actual timing, manner, number and value of any shares repurchased will be determined by management at its discretion and will depend on a number of factors, including the market price of BD's common stock, general market and economic conditions, and other business considerations.

"Few companies have hit the milestone of a half century of consecutive dividend increases, and it is a source of pride to do so," said Tom Polen, chairman, CEO and president of BD. "The dividend increase and share repurchase authorization speak directly to BD's commitment to create value and return capital to shareholders, which are central outcomes to our BD 2025 strategy."