Baxter International announced that its board of directors has approved the repurchase of an additional $2 billion of the company's common stock to be executed upon completion of the company's existing share repurchase authorization. Baxter has less than $700 million of remaining authorization under its previous $2 billion share repurchase program that was authorized in March 2007. Shares will be repurchased in the open market at times and amounts determined by management based on its evaluation of market conditions and other factors. In 2007, Baxter returned more than $2.5 billion to shareholders through both share repurchases and dividends. The company repurchased 34 million shares of common stock, for approximately $1.9 billion, and paid dividends totaling $704 million.