Baxter's Board of Directors Approves New Share Repurchase Authorization of $2.5 Billion |
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Baxter International, Inc.
1-T Baxter Pkwy.
Deerfield, IL, 60015
USA
Press release date: December 13, 2010
DEERFIELD, Ill., December 13, 2010 - Baxter International Inc. (NYSE:BAX) announced today that its Board of Directors has approved a share repurchase authorization of up to $2.5 billion of the company's common stock.
Baxter has approximately $600 million of remaining authorization under a previous $2.0 billion share repurchase program approved in July 2009. Shares will be repurchased in the open market at times and amounts determined by the company based on its evaluation of market conditions and other factors.
"This approval is consistent with our disciplined capital allocation approach and reflects the confidence we have in our ongoing ability to generate strong cash flows and deliver increased value to our shareholders," said Robert J. Hombach, chief financial officer.
Over the last five years, the company has returned more than $10 billion to shareholders in the form of dividends and share repurchases. Baxter has doubled its dividend rate during this period, and recently announced a 7 percent increase for 2011.
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.
Media Contact: Deborah Spak, (847) 948-2349
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