DEERFIELD, Ill., Nov 09, 2010 (BUSINESS WIRE) -- The Board of Directors of Baxter International Inc. /quotes/comstock/13*!bax/quotes/nls/bax (BAX 51.63, -0.04, -0.08%) today declared a quarterly dividend of $0.31 per Baxter common share. This represents an increase of approximately 7 percent over the previous quarterly rate of $0.29 per share. The dividend is payable on January 5, 2011, to shareholders of record as of the close of business on December 10, 2010.
Baxter continues to generate strong cash flow and has returned significant value to shareholders in the form of dividends and share repurchases. Since the beginning of 2010, Baxter has returned approximately $2.0 billion to shareholders through dividends totaling $688 million and share repurchases of approximately $1.3 billion (or 26 million shares).
"Our disciplined capital allocation strategy and ongoing ability to generate strong cash flow allow us to continue to invest for the long-term while returning significant value to our shareholders," said Robert J. Hombach, chief financial officer.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning the company's dividend. 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; future decisions of the board of directors of the company to continue payments to shareholders in the form of a dividend on a quarterly or other basis relative to alternative uses of funds; 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 the company's website. The company does not undertake to update its forward-looking statements.
SOURCE: Baxter International Inc.
Disclosure I am long BAX shares
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