*Baxter to buyback $2 bln stock
*less than $300 mln remaining from previous repurchase
*Baxter shares up 1.7 percent
NEW YORK, July 28 The board of Baxter
International Inc (BAX.N) authorized the repurchase of an
additional $2 billion of shares once the company completes its
current buyback program.
The Deerfield, Illinois-based company said on Tuesday that
it has less than $300 million remaining under its current $2
billion share repurchase authorization, which commenced in
The company also declared a regular quarterly dividend of
26 cents per share of common stock.
"The continuation of our share repurchase program reflects
our confidence in achieving longer-term objectives while
investing in R&D (research and development) and new business
development opportunities," Chief Financial Officer Robert
Davis said in a statement.
Shares of Baxter, which is developing a pandemic flu
vaccine and sells blood therapy products and intravenous drug
pumps, were up 91 cents, or 1.7 percent, at $55.50 in late
morning trade on the New York Stock Exchange.
(Reporting by I-Ching Ng, editing by Gerald E. McCormick)