Baxter declares latest quarterly dividend

Baxter has announced that its board of directors has approved a new quarterly dividend of $0.49 (32 pence) per common share.

To be made payable on October 1st 2013 to shareholders of record on September 6th, this latest announcement comes as part of Baxter's ongoing strategy of providing value for its shareholders.

In May, the healthcare firm increased its dividend for shareholders by nine percent, which followed on from a 34 percent increase in the dividend rate that was implemented last year.

Robert Hombach, chief financial officer at Baxter, said: "We remain committed to a disciplined capital allocation strategy, balancing reinvestment for growth with returning meaningful value to our investors."

Earlier this month, the company announced its financial results for the first half of 2013, during which it generated a sales total of $7.1 billion – up by two percent year on year.

This allowed Baxter to confirm its financial outlook for the full year, with further sales growth of six percent anticipated in the third quarter.