Baxter International (BAX) will raise its quarterly dividend to $0.16 per share.
The dividend is payable on July 3, 2017 to stockholders of record as of June 2, 2017.
"Baxter is pleased to raise our quarterly dividend rate, which reflects the company's strong financial performance and commitment to enhancing shareholder value," said Jose (Joe) E. Almeida, chairman and chief executive officer. "This new rate aligns with our disciplined approach to capital allocation, as we strategically balance reinvestment in the business to drive sustainable growth along with returning value to our shareholders."
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.