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Pfizer Increases Quarterly Dividend

Mon, 12/16/2013 - 4:09pm

NEW YORK (AP) — Pfizer Inc. said Monday that it is increasing its first-quarter dividend by 8.3 percent.

The drug company's new dividend of 26 cents per share is payable March 4 to shareholders of record as of Feb. 7. This is up from its most recent dividend of 24 cents per share.

Pfizer said this represents the company's 301st consecutive quarterly dividend paid to shareholders. The company said the increase reflects confidence in its business and a commitment to returning capital to shareholders.

Shares of the New York-based company increased 3 cents to $30.28 by early afternoon, in line with broader market trends.

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