MURRAY HILL, N.J. (AP) -- Medical device maker C.R. Bard Inc. said Wednesday that it will increase its quarterly dividend to 20 cents from 19 cents and will buy back up to $500 million in stock.
The dividend is payable Aug. 3 to shareholders of record as of July 23.
The stock repurchase is in addition to $88 million still remaining on Bard's previous stock buyback authorization approved in June 2010.
C.R. Bard shares rose 96 cents to close at $99.44. The shares have ranged from $80.80 and $113.84 over the last 12 months.