Stryker announces share repurchase scheme and dividend increase

Stryker has announced the launch of a new share repurchase scheme, as well as a quarterly dividend increase of 18 percent.

The medical technology company's board of directors has authorised the repurchasing of an additional $500 million (318.7 million pounds) of its common stock, reflecting the strong financial position of the business.

Similarly, its quarterly dividend of $0.2125 per share – which will be payable on January 31st 2012 – comes after a year in which the company has paid around $280 million of dividends to its investors.

Stephen MacMillan, chairman, president and chief executive officer of Stryker, noted that the organisation has been able to make targeted acquisitions and improve its research and development investments, despite challenging economic conditions.

"These actions position us well to continue our history of delivering innovation and driving long-term sales and earnings growth," he added.

Last week, the company announced that it has completed enrolment for the new clinical trial Trevo 2, a study of the Concentric Medical product Trevo Retriever.