DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE:BAX) today announced an approximately 19% increase in the company’s quarterly dividend rate. This rate increase was made in connection with the declaration of a quarterly cash dividend of $0.19 per share of common stock (up from $0.16 per share), payable on July 2, 2018, to stockholders of record as of June 1, 2018. The indicated annual dividend rate is now $0.76 per share of common stock.
“Baxter is pleased to raise our quarterly dividend rate,” said José (Joe) E. Almeida, chairman and chief executive officer. “The new rate reflects our strong financial position and continued transformation to deliver industry-leading performance, as we strategically deploy capital to fuel growth and enhance stockholder value.”
Baxter provides a broad portfolio of essential healthcare products across its portfolio, including acute and chronic dialysis therapies; sterile IV solutions; infusion systems and devices; parenteral nutrition therapies; inhaled anesthetics; generic injectable pharmaceuticals; and surgical hemostat and sealant products. The company’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon the company’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.
This release includes forward-looking statements concerning Baxter's dividends and rates thereof. 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, research and development, 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.