Baxter raised quarterly dividend by 19%

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Baxter boosts quarterly dividend by 19%, effective July

Baxter International Inc. said Tuesday it will raise its quarterly dividend by 19% to 19 cents a share, from 16 cents a share. The healthcare products company’s new dividend will be payable July 2 to shareholders of record on June 1. Based on Monday’s stock closing price of $70.33, the new annual dividend rate implies a dividend yield of 1.08%, compared with the dividend yield of the SPDR Health Care Select Sector ETF of 1.54% and the implied S&P 500 dividend yield of 1.96%, according to FactSet. Baxter’s stock, which was still inactive in premarket trade, has rallied 8.8% year to date, while the healthcare ETF has lost 2.2% and the S&P 500 has slipped less than 0.1%.

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