DEERFIELD, Ill.--(BUSINESS WIRE)--
Baxter International Inc. (NYSE:BAX), a leading global medical products
company, announced today a quarterly cash dividend and an expanded
authorization for its share repurchase program.
The Board of Directors of Baxter has declared a quarterly cash dividend
of $0.19 per share of common stock, payable on Jan. 2, 2019, to
stockholders of record as of Dec. 3, 2018. The indicated annual dividend
rate is $0.76 per share of common stock.
Baxter’s Board of Directors has also approved a $2.0 billion increase in
authorization for the company’s existing share repurchase plan. Based on
these actions, the share repurchase plan has approximately $3.4 billion
of repurchase authority available as of the date hereof to make
repurchases pursuant to new or 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 and, if applicable, in
accordance with the terms of one or more Rule 10b5-1 plans.
“Baxter’s strong balance sheet allows us to serve our shareholders by
investing in growth as well as returning value through dividends and
share repurchases,” said Jay Saccaro, Baxter’s chief financial officer.
About Baxter
Every day, millions of patients and caregivers rely on Baxter’s leading
portfolio of critical care, nutrition, renal, hospital and surgical
products. For more than 85 years, we’ve been operating at the critical
intersection where innovations that save and sustain lives meet the
healthcare providers that make it happen. With products, technologies
and therapies available in more than 100 countries, Baxter’s employees
worldwide are now building upon the company’s rich heritage of medical
breakthroughs to advance the next generation of transformative
healthcare innovations. To learn more, visit www.baxter.com
and follow us on Twitter,
LinkedIn
and Facebook.
This release includes forward-looking statements concerning Baxter's
dividend and potential share repurchase activity. 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; alternative uses of
funds including, but not limited to dividends, share repurchases,
business development transactions and other investments in the company’s
businesses; and other risks identified in the company's most recent
filing on Form 10-K and other SEC filings, all of which are available on
Baxter’s website. Baxter does not undertake to update its
forward-looking statements.
Baxter is a registered trademark of Baxter International Inc.
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Baxter International Inc.
Media Contact
Steve Brett,
(224) 948-5353
media@baxter.com
or
Investor
Contact
Clare Trachtman, (224) 948-3085
Source: Baxter International Inc.