DEERFIELD, Ill., November 15, 2011 - The Board of Directors of Baxter International Inc. (NYSE:BAX) today declared a quarterly dividend of $0.335 per Baxter common share, payable on January 4, 2012 to shareholders of record as of the close of business on December 9, 2011. This represents an annual dividend rate of $1.34 per share, and an increase of approximately 8 percent over the previous annual rate of $1.24.
Baxter continues to generate strong cash flow and has returned significant value to shareholders in the form of dividends and share repurchases. Through the first nine months of 2011, Baxter has returned $1.95 billion to shareholders through dividends totaling $534 million and share repurchases of approximately $1.41 billion (or 26 million shares), a 9 percent increase versus the prior-year period.
"Baxter's strong financial position and ongoing ability to generate strong cash flow allow us to continue to invest for the long-term and return value to our shareholders in the form of dividends and share repurchases, consistent with our disciplined capital allocation strategy," said Robert J. Hombach, chief financial officer.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning the company's dividend. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: continued strength in the company's financial position, including cash flows; future decisions of the board of directors of the company to continue payments to shareholders in the form of a dividend on a quarterly or other basis relative to alternative uses of funds; and other risks identified in the company's most recent filing on Form 10-K and other SEC filings, all of which are available on the company's website. The company does not undertake to update its forward-looking statements.