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Stryker raises dividend, adds to stock repurchase

KALAMAZOO, Mich. (AP) -- Medical device maker Stryker Corp. on Wednesday raised its quarterly dividend to 26.5 cents from 21.25 cents per share and said it will repurchase another $405 million in stock.

The company's next dividend is payable Jan. 31 to shareholders of record on Dec. 31.

Stryker said it now has $1 billion available for stock repurchases. It had 380.2 million shares on the market as of Sept. 30.