Baxter International (BAX) will raise its quarterly dividend by 18.8 percent to $0.19 per share in the second quarter of 2018. This marks the third consecutive year of dividend increases by the healthcare company.

The next dividend is 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 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.