Stryker has increased its dividend by 20 percent and authorized the company to repurchase an additional $500 million of its stock, according to a company news release.
Stephen P. MacMillan, chairman, president and CEO of Stryker, said that the company's strong performance in 2010 has allowed an increase in research and development funding. The 20 percent dividend increase was possible because the company declared a quarterly dividend of $0.18-per-share payable on Jan. 31, 2011.
The company predicts the increased dividend and stock repurchasing will return significant value to shareholders. Since the beginning of 2010, Stryker has returned approximately $238 million to shareholders. Under the existing $750 million share repurchasing program, the company repurchased approximately $410 million as of Dec. 7.
Read the Stryker news release on the dividend increase and stock repurchasing.
Read other coverage on Stryker:
- Stryker Sells OP-1 Products to Olympus Corp. for $60M
- Stryker Expected to Contract With Brooke Army Medical Center
- Stryker Purchases Porex Surgical
Stephen P. MacMillan, chairman, president and CEO of Stryker, said that the company's strong performance in 2010 has allowed an increase in research and development funding. The 20 percent dividend increase was possible because the company declared a quarterly dividend of $0.18-per-share payable on Jan. 31, 2011.
The company predicts the increased dividend and stock repurchasing will return significant value to shareholders. Since the beginning of 2010, Stryker has returned approximately $238 million to shareholders. Under the existing $750 million share repurchasing program, the company repurchased approximately $410 million as of Dec. 7.
Read the Stryker news release on the dividend increase and stock repurchasing.
Read other coverage on Stryker:
- Stryker Sells OP-1 Products to Olympus Corp. for $60M
- Stryker Expected to Contract With Brooke Army Medical Center
- Stryker Purchases Porex Surgical