Baxter International (BAX) will pay a quarterly dividend of $0.115 per share, down 77.9% from the $0.52 quarterly dividend prior to the Baxalta spin-off.

Baxalta, spun off by Baxter this July, just initiated its own quarterly dividend.

Baxter International Inc. provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis, sterile IV solutions, infusion systems and devices, parenteral nutrition, biosurgery products and anesthetics, and pharmacy automation, software and services.