(RTTNews) - Becton, Dickinson and Co. (BDX: News ), which makes medical devices, instrument systems and reagents, said Tuesday that its board of directors has approved a 12.1% increase to the company's quarterly dividend.

The company said its board declared a quarterly dividend of $0.37 per share, which is $0.04 per share more than the previous quarter's dividend. The new dividend will be payable on January 4 to shareholders of record on December 14.

At the current rate, the company said the annual dividend for fiscal 2010 would be $1.48 per share.

Additionally, Becton Dickinson said its board has authorized the repurchase of up to an additional 10 million shares of the company's common stock. The latest authorization is on top of the about 7.6 million shares remaining at September 30, 2009 from a previous 10 million-share buyback program authorized in September 2008.
The company had about 237 million shares of common stock outstanding as of September 30.

Becton Dickinson shares are currently trading at $75.90, up 65 cents.

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by RTT Staff Writer

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