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May 5, 2020, 8:54 a.m. EDT

Baxter boosts dividend by 11%, but still yields less than health care ETF

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By Tomi Kilgore

Baxter International Inc. /zigman2/quotes/207334572/composite BAX +1.79% said Tuesday it was raising its quarterly dividend by 11%, to 24.5 cents a share from 22 cents. The health care products company's new dividend will be payable July 1 to shareholders of record on June 5. Based on Monday's stock closing price of $87.27, the new annual dividend rate implies a dividend yield of 1.12%, compared with the yield for the SPDR Health Care Select Sector ETF /zigman2/quotes/205918244/composite XLV -0.79% of 1.62% and the implied yield for the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.56% of 2.06%. The stock, which rose 0.8% in premarket trading, has gained 4.4% year to date through Monday, while the health care ETF has lost 4.0% and the S&P 500 has declined 12.0%.

/zigman2/quotes/207334572/composite
US : U.S.: NYSE
$ 85.69
+1.51 +1.79%
Volume: 2.45M
July 9, 2020 4:00p
P/E Ratio
43.53
Dividend Yield
1.14%
Market Cap
$42.83 billion
Rev. per Employee
$222,540
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/zigman2/quotes/205918244/composite
US : U.S.: NYSE Arca
$ 100.95
-0.80 -0.79%
Volume: 10.52M
July 9, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,152.05
-17.89 -0.56%
Volume: 2.60B
July 9, 2020 5:11p
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