Zimmer hikes quarterly payout by 2 cents per share

Zimmer raises quarterly dividend payment by 2 cents to 20 cents per share

Associated Press

WARSAW, Ind. (AP) -- Orthopedic products maker Zimmer Holdings Inc. has raised the quarterly dividend it pays shareholders by two cents to 20 cents per share.

The Warsaw, Ind., company said Friday that the increased dividend will be paid April 26 to shareholders of record as of the close of business on March 29.

The company said in January its fourth-quarter earnings fell 2 percent to $152.8 million, or 88 cents per share.

Results were hurt by a goodwill impairment charge of $96 million to write down the value of its spinal implants unit. The company said sales of spinal implants face a number of challenges, including pressure from payers on reimbursement rates and prices. The company's revenue climbed 1 percent to $1.18 billion.

Its shares slipped 14 cents to $74.75 in morning trading Friday. They are near their 52-week high of $76.75 and traded as low as $57.46 over the past year.

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