Baxter's Board of Directors Approves New Share Repurchase Authorization of $2.5 Billion
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
