Stryker announces 15 percent dividend increase

Stryker's board of directors has approved and announced a new quarterly dividend increase, reflecting the strength of the company's recent performance.

A quarterly dividend of $0.305 (0.187 pounds) per share will be made payable on January 31st 2014 to shareholders of record at the close of business on December 31st 2013, representing an increase of 15 percent.

This is an indication of the strong balance sheet and cash flow generation that Stryker is currently experiencing. During the third quarter of 2013, the company achieved a $2.2 billion sales total, representing a 4.8 percent annual increase.

It means the firm is on track to meet its financial targets for the year as a whole. This has allowed it to continue to expand its dividend, which has grown 26 percent on a compound annual basis since 2008.

Kevin Lobo, president and chief executive officer of Stryker, said: "We remain committed to pursuing acquisitions for growth while also returning capital to shareholders at meaningful levels through dividends and share buybacks."