Stryker (NYSE:SYK) announced today that its board of directors declared a quarterly dividend of 75¢ per share.
The dividend is payable Jan. 31, 2023, to shareholders of record at the close of business on Dec. 30, 2022. It marks an increase of 7.9% compared to the previous year and previous quarter.
“We remain confident in our growth outlook, despite the challenging macroeconomic environment,” said Kevin Lobo, chair & CEO. “Consequently, we are proceeding with a steady increase in our dividend to $0.75 per share, reflecting 7.9% growth.”
The challenging macroeconomic environment includes high costs for key components. This environment affected Stryker’s third-quarter earnings, released last month. The Kalamazoo, Michigan-based orthopedic implant maker beat the Wall Street revenue consensus but missed on earnings. This led to a reduction of its full-year EPS guidance.
Shares of SYK ticked up 1.2% at $238.35 apiece in mid-morning trading today.