July 25, 2012 / 12:54 PM / 5 years ago

Baxter board ups dividend, approves new share buyback program

July 25 (Reuters) - Baxter International Inc on Wednesday said its board of directors raised the company’s dividend and approved a new share repurchase program of up to $2.0 billion.

Baxter will issue a quarterly dividend of 45 cents per common share, payable on October 1, 2012 to shareholders of record as of the close of business on September 7, 2012.

The annual dividend rate of $1.80 per share is up 34 percent.

The medical products maker still has about $450 million remaining from its previous share repurchase authorization, which was approved in December 2010. (Reporting By Debra Sherman; Editing by Gerald E. McCormick)

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