Stryker to buy back up to $750 million in stock

AP News
Posted: Dec 03, 2009 9:20 AM

Stryker Corp. said Thursday its board approved plans to buy back up to $750 million in stock and declared a quarterly dividend of 15 cents.

The company, which makes surgical instruments, had roughly 398 million shares outstanding at the end of October. The stock has traded between $30.82 and $51.32 over the past year.

The latest dividend is Stryker's first since converting from an annual schedule. It will be payable Jan. 29 to shareholders on record by Dec. 30.

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Stryker paid a total of 50 cents per share in dividends during 2009.