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Pfizer Hosts Annual Meeting Of Shareholders; Declares 18-Cent Second-Quarter 2010 Dividend

Thu, 04/22/2010 - 6:21am
Pfizer

CLEVELAND--(BUSINESS WIRE)--The board of directors of Pfizer Inc. today declared an 18-cent second-quarter 2010 dividend on the company’s common stock, payable June 1, 2010, to shareholders of record at the close of business on May 7, 2010.

The second-quarter 2010 cash dividend will be the 286th consecutive quarterly dividend paid by Pfizer.

At the company’s Annual Meeting of Shareholders, Chairman and Chief Executive Officer Jeffrey B. Kindler said the legacy of advancing health continues stronger than ever in today’s Pfizer.

“Last year’s acquisition of Wyeth strengthened our ability to offer new health solutions for every stage of life, which shaped Pfizer into a much more diversified company,” Mr. Kindler said. “We believe Pfizer is now well-positioned to deliver steady earnings growth.”

Preliminary results indicate that the company’s 15 directors were re-elected to one-year terms and that shareholders ratified the selection of KPMG LLP as Pfizer’s independent registered public accounting firm for the 2010 fiscal year.

In addition, shareholders voted in support of a board-sponsored proposal to approve, on an advisory basis, Pfizer’s overall executive compensation policies and procedures for named executive officers, and approved a board-sponsored proposal to amend the company’s by-laws to reduce to 20% the percentage of share ownership required for shareholders to call special shareholder meetings.

A shareholder proposal regarding stock options was not approved by shareholders.

The final results are subject to verification by the independent election inspectors, which is not expected to significantly change the preliminary results. The final results will be reported in a Form 8-K to be filed by Pfizer with the Securities and Exchange Commission in the next few days.

Pfizer Inc: Working together for a healthier world™

At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world’s leading biopharmaceutical company, we also collaborate with healthcare professionals, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com

Follow Pfizer on Twitter.com @Pfizer_news

DISCLOSURE NOTICE: The information contained in this release is as of April 22, 2010. The Company assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.

This release contains forward-looking information about the Company’s performance, including the projected benefits of the acquisition of Wyeth, that involves substantial risks and uncertainties. A description of these risks and uncertainties can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2009 and in its reports on Forms 10-Q and 8-K.

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