St. Jude Medical Announces Increase in Quarterly Dividend
February 27 2012 - 8:01AM
Business Wire
St. Jude Medical, Inc. (NYSE:STJ), a global medical device
company, today announced that its Board of Directors declared a 10
percent increase in the company’s quarterly dividend to $0.23 per
common share. At the new rate, the annual dividend would be $0.92
per share, compared to the previous annual dividend of $0.84 per
share. The dividend is payable April 30, 2012, to shareholders of
record on March 30, 2012.
Commenting on the dividend increase, St. Jude Medical Chairman,
President and Chief Executive Officer Daniel J. Starks said, "St.
Jude Medical has a long track record of returning capital to our
shareholders. This increase in our cash dividend demonstrates our
commitment to maintaining a meaningful dividend payout over time
without sacrificing our ability to invest in our robust portfolio
of product development initiatives designed to accelerate our
revenue growth."
About St. Jude Medical
St. Jude Medical develops medical technology and services that
focus on putting more control into the hands of those who treat
cardiac, neurological and chronic pain patients worldwide. The
company is dedicated to advancing the practice of medicine by
reducing risk wherever possible and contributing to successful
outcomes for every patient. St. Jude Medical is headquartered in
St. Paul, Minn. and has four major focus areas that include:
cardiac rhythm management, atrial fibrillation, cardiovascular and
neuromodulation. For more information, please visit sjm.com.
Forward-Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that involve risks and uncertainties. Such forward-looking
statements include the expectations, plans and prospects for the
Company, including potential clinical successes, anticipated
regulatory approvals and future product launches, and projected
revenues, margins, earnings and market shares. The statements made
by the Company are based upon management’s current expectations and
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include
market conditions and other factors beyond the Company’s control
and the risk factors and other cautionary statements described in
the Company’s filings with the SEC, including those described in
the Risk Factors and Cautionary Statements sections of the
Company’s Annual Report on Form 10-K for the fiscal year ended
January 1, 2011 and Quarterly Report on Form 10-Q for the fiscal
quarter ended October 1, 2011. The Company does not intend to
update these statements and undertakes no duty to any person to
provide any such update under any circumstance.
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