BD reports 6.8% increase in Q4 revenue; declares quarterly dividend

BD announced results for its fourth quarter and full year of fiscal 2023, which ended September 30, 2023.

“We achieved another quarter, and another year, of strong performance through our talented team’s execution of our BD2025 strategy and differentiated portfolio of medical technologies that are increasing healthcare efficiency and improving the lives of patients around the world,” said Tom Polen, chairman, CEO and president of BD. “Looking ahead, continued execution of our category leadership strategy in higher-growth markets, advancement of our strong innovation pipeline and delivery against our simplification programs position us well to deliver durable growth in fiscal 2024 and beyond.”

Recent business and ESG highlights
BD Medical:
The Medication Management Solutions business unit began shipping the updated BD Alaris™ Infusion System at the end of September as part of its remediation process.

The Medication Delivery Solutions business unit advanced its “One-Stick Hospital Stay” vision with the launch of its next-generation needle-free blood draw technology. With FDA 510(k) clearance, the new PIVO™ Pro Needle-free Blood Collection Device delivers the first and only compatibility with integrated catheters, including the new Nexiva™ Closed IV Catheter System with NearPort™ IV Access, bringing an elevated standard of care to more U.S. hospitals.

BD Life Sciences:
The Integrated Diagnostics Solutions business unit received FDA 510(k) clearance for the BD Respiratory Viral Panel for BD MAX™ System, a single molecular diagnostic combination test that identifies and distinguishes Covid-19, Influenza A/B and RSV.

BD Interventional:
The Peripheral Intervention business unit began investigation of the safety and effectiveness of the BD Liverty™ Transjugular Intrahepatic Portosystemic Shunt (TIPS) Stent Graft to reduce complications associated with portal hypertension with first patient enrollment in the ARCH study.

Ranked in the top 10 for overall transparency and awarded Best Code of Conduct among S&P 250 companies in the fifth annual U.S. Transparency Awards by Labrador.

Named among the 100 Best Corporate Citizens of 2023 by 3BL and top two in the health care equipment and services industry.

Completed industry-first circular economy pilot, partnering with Casella Waste Systems, Inc. to manage discarded needles and syringes that led to 40,000 pounds of medical waste being recycled.

BD BoD increases dividend for 52nd consecutive year:
Meanwhile, Board of Directors of BD has declared a quarterly dividend of $0.95 per common share, an increase of 4.4% from the previous quarter. The dividend will be payable on December 29, 2023 to holders of record on December 8, 2023. The indicated annual dividend rate for fiscal year 2024 is $3.80 per share.

“This is the 52nd consecutive fiscal year in which we have raised our dividend, maintaining BD’s membership in the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends for at least 25 consecutive years,” said Tom Polen, chairman, CEO and president of BD. “This increase reflects our confidence in our long-term outlook, as well as our ongoing commitment to create value through execution of our BD 2025 strategy and return capital to shareholders.”

For full fourth quarter result click.
MB Bureau