OREANDA-NEWS. Baxter International Inc. (NYSE:BAX) today announced a quarterly dividend and an expanded authorization for its share repurchase program.

The Board of Directors of Baxter has declared a quarterly cash dividend of $0.13 per common share, payable on January 3, 2017 to shareholders of record as of December 2, 2016. The indicated annual dividend rate is $0.52 per share.

Baxter’s Board of Directors also has approved a $1.5 billion increase in authorization for the company’s existing share repurchase plan. The share repurchase plan, which was originally approved in July 2012, now has approximately $1.9 billion of repurchase authority under the amended plan. 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.

"These actions reflect our commitment to returning meaningful value to shareholders while also balancing reinvestment in the business to drive long-term, sustainable growth," said Jay Saccaro, Baxter’s chief financial officer.

Baxter provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. The company’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon the company’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.