Baxter Increases Dividend and Declares Quarterly Dividend

Rhea-AI Summary

Baxter International (NYSE:BAX) has increased its quarterly cash dividend by approximately 3.5% to $0.29 per share, up from $0.28. The dividend is payable on July 1, 2022, to stockholders of record as of June 3, 2022, resulting in an annual dividend rate of $1.16 per share. CEO José Almeida emphasized the company's commitment to delivering shareholder value and advancing innovation, marking the seventh consecutive year of dividend growth.

Positive

• Quarterly cash dividend increased to $0.29 per share, a 3.5% rise.
• Annual dividend rate now stands at $1.16 per share.
• Seventh consecutive year of dividend growth, indicating strong financial health.

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• None.

DEERFIELD, Ill.--(BUSINESS WIRE)-- Baxter International Inc. (NYSE:BAX), a leading global medtech company, today announced an increase in the company’s quarterly cash dividend to a rate of $0.29 per share of common stock. This represents an approximately 3.5% increase over the previous quarterly dividend rate of $0.28 per share. Baxter’s Board of Directors declared the dividend payable on July 1, 2022, to stockholders of record as of June 3, 2022. The indicated annual dividend rate is now $1.16 per share of common stock.

“Baxter continues to advance its lifesaving Mission and deliver value for shareholders amid an unprecedented healthcare landscape,” said José (Joe) E. Almeida, chairman, president and chief executive officer. “With our dedicated employees, diverse portfolio and disciplined approach to capital allocation, we are pleased to increase our dividend for the seventh straight year. We will continue to focus on advancing innovation, accelerating growth and realizing the potential of our Hillrom acquisition to benefit patients, caregivers, investors and the many other stakeholder communities that depend on us.”

About Baxter

Every day, millions of patients, caregivers and healthcare providers rely on Baxter’s leading portfolio of diagnostic, critical care, kidney care, nutrition, hospital and surgical products used across patient homes, hospitals, physician offices and other sites of care. For 90 years, we’ve been operating at the critical intersection where innovations that save and sustain lives meet the healthcare providers who make it happen. With products, digital health solutions and therapies available in more than 100 countries, Baxter’s employees worldwide are now building upon the company’s rich heritage of medical breakthroughs to advance the next generation of transformative healthcare innovations. To learn more, visit www.baxter.com and follow us on Twitter, LinkedIn and Facebook.

Forward-Looking Statements

This release includes forward-looking statements concerning the company’s capital allocation, which currently includes the issuance of quarterly dividends. These forward-looking statements are based on assumptions about many factors and it is possible that Baxter’s annual dividend payout rate may differ, possibly materially, from the anticipated annual indicative dividend described herein. For information about some of the risks and important factors that could affect Baxter’s future results, financial condition and liquidity, see Baxter’s most recent filing on Form 10-K and other SEC filings, all of which are available on Baxter’s website. Baxter does not undertake to update its forward-looking statements unless otherwise required by the federal securities laws.

Baxter and Hillrom are registered trademarks of Baxter International Inc. or its subsidiaries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220502005945/en/

Media Contact

Eric Tatro, (224) 948-5353

media@baxter.com

Investor Contact

Clare Trachtman, (224) 948-3020

Source: Baxter International Inc.

FAQ

What is the new dividend amount for Baxter (BAX)?

Baxter's new dividend amount is $0.29 per share.

When is Baxter's dividend payable?

The dividend is payable on July 1, 2022.

What was the previous dividend amount for Baxter (BAX)?

The previous dividend amount was $0.28 per share.

What is the annual dividend rate for Baxter after the increase?

The annual dividend rate for Baxter is now $1.16 per share.

How many consecutive years has Baxter increased its dividend?

Baxter has increased its dividend for seven consecutive years.