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Home Industry News Baxter announces new dividend increase

Baxter announces new dividend increase

7th May 2013

Baxter's board of directors has approved a nine percent dividend increase, with a quarterly dividend of $0.49 (32 pence) per share to be made payable on July 1st 2013.

This payout – which applies to shareholders of record as of the close of business on June 7th – is indicative of the recent strength of the healthcare company's business performance and cash flow trends.

It maintains Baxter's payout ratio at approximately 40 percent and follows a 34 percent increase in the dividend rate that the firm implemented last year. 

Over the course of 2012, the organisation returned around $2.3 billion to shareholders through dividends totaling more than $800 million and share repurchases in the region of $1.5 billion.

Robert Hombach, chief financial officer at the firm, said: "Baxter remains committed to a disciplined capital allocation strategy, which balances reinvestment for growth with returning meaningful value to our investors."

According to the company's most recent financial report, Baxter generated $3.45 billion in worldwide sales in the first quarter of 2013, up by two percent year on year.ADNFCR-8000103-ID-801581858-ADNFCR

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