Dividend Aristocrat Becton Dickinson and Company (BDX) will raise its quarterly dividend by 4.8 percent to 87 cents per share in 2021. This comes after a 5.1 percent hike to 83 cents per share in 2020 and marks 50 years in a row of dividend increases by the medical devices maker.
The board has also authorized the company to repurchase up to 10 million shares of BD common stock. This new authorization is in addition to the approximately 750,000 shares that remain available under the board's previous authorization in 2013.
"Few companies have hit the milestone of a half century of consecutive dividend increases, and it is a source of pride to do so," said Tom Polen, chairman, CEO and president of BD. "The dividend increase and share repurchase authorization speak directly to BD's commitment to create value and return capital to shareholders, which are central outcomes to our BD 2025 strategy."
The next BDX dividend will be payable on December 31, 2021 to holders of record on December 10, 2021. A new indicated annual dividend rate of $3.48 per share for Becton Dickinson yields 1.4% at a stock price of $243.71. The ex-dividend date is December 9, 2021. The company now pays shareholders an estimated $999 million in dividends annually.
Becton, Dickinson and Company (BD) is a global medical technology company engaged in the development, manufacture and sale of a broad range of medical supplies, devices, laboratory equipment and diagnostic products used by healthcare institutions, physicians, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. BD’s operations consist of three worldwide business segments: BD Medical, BD Life Sciences and BD Interventional. Becton, Dickinson and Company was incorporated under the laws of the State of New Jersey in November 1906, as successor to a New York business started in 1897.