Baxter Dividend Provides 1.1% Yield

Baxter International Inc. BAX disclosed Tuesday that its board declared a quarterly cash dividend of $0.13 per common share. On a full year basis, this represented $0.52 a share. The dividend offered 1.1 percent yield, which was lower than the five-year average yield of 4.30 percent.

Baxter said this cash dividend would be paid on October 3 to shareholders' name appearing as of September 2.

The company boosted its quarterly dividend rate by 13 percent in May reflecting its commitment to returning value to its shareholders. The company indicated that it targeted an annual dividend payout ratio of approximately 35 percent of adjusted net income.

In the latest quarter, the company's dividend payout ratio was about seven percent, which was lower than the five-year dividend payout ratio of 73.0 percent.

On Tuesday, the stock traded down by 1.07 percent.