Stryker Corp (SYK) will raise its quarterly dividend by 10.6 percent to $0.47 per share in the fourth quarter of 2017. The new dividend yield for SYK is 1.2%. In 2016 Stryker hiked its dividend by 11.8 percent.

The new dividend is payable on January 31, 2018 to shareholders of record at the close of business on December 29, 2017.

"Our financial strength is reflected in the 11% increase in our dividend for 2018 as we continue to execute on our capital allocation strategy," said Kevin A. Lobo, Chairman and Chief Executive Officer. "With strong organic sales growth and leveraged adjusted earnings gains, we believe we are well positioned to continue to deliver dividend increases in line with our adjusted earnings growth."

Stryker Corporation is a medical technology company. The company offers products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine. Stryker's products include  implants used in hip and knee joint replacements and trauma and extremities surgeries,  surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products and neurosurgical, neurovascular, and spinal implant devices. Stryker was incorporated in Michigan in 1946 as the successor company to a business founded in 1941 by Dr. Homer H. Stryker, a prominent orthopaedic surgeon and the inventor of several medical products.