Baxter approves $1.5B addition to share repurchase plan

Baxter (NYSE:BAX) said today its board of directors approved a $1.5 billion addition to its existing share repurchasing plan.

With the approval, the company’s share repurchasing plan has approximately $2.3 billion in repurchase authority, the Deerfield, Ill.-based company said.

Shares can be repurchased through the open market or through private transactions at times and in amounts determined by the company, Baxter said.

“Over the last two years, Baxter has significantly improved its cash generation, allowing the company to enhance investments in the business to drive growth while also returning capital to shareholders through increased dividends and share repurchases,” CFO Jay Saccaro said in a prepared statement.

Earlier this month, Baxter saw its shares fall slightly despite the company topping expectations on Wall Street with its fourth quarter and full-year 2017 results.

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