Stryker hikes dividend by 5% to $0.84 quarterly
Stryker (SYK) has declared a quarterly dividend of 84 cents per share, up 5% from the previous dividend of 80 cents. This new hike for 2024 marks the 29th consecutive year of increased dividends by SYK.
The company's Board of Directors has declared a quarterly dividend of $0.84 per share payable January 31, 2025 to shareholders of record at the close of business on December 31, 2024, representing an increase of 5.0% versus the prior year and previous quarter.
“We continue to deliver strong financial results, and consistent with our capital allocation priorities we are raising our dividend 5.0%,” said Kevin Lobo, Chair and Chief Executive Officer, Stryker.
At a stock price of $382 the dividend yield for Stryker is 0.9%. This 2024 dividend hike is the smallest in decades by Stryker and brings the 5 year CAGR for the dividend down to 7.9%.
Stryker Corporation is a medical technology company. The company offers products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine. Stryker's products include implants used in hip and knee joint replacements and trauma and extremities surgeries, surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products and neurosurgical, neurovascular, and spinal implant devices. Stryker was incorporated in Michigan in 1946 as the successor company to a business founded in 1941 by Dr. Homer H. Stryker, a prominent orthopaedic surgeon and the inventor of several medical products.
