Thursday, December 14th, the Board of Directors of Pfizer Inc. announced a quarterly dividend increase of from $ 0.34 to $ 0.36 per share that’s payable March 1, 2019 to holders of record February 1, 2019. This represents a 5.88% increase to regular quarterly dividends.
The first-quarter 2019 cash dividend will be the 321st
consecutive quarterly dividend paid by Pfizer.
Keeping with past practice, the board of directors also
authorized a new $10 billion share repurchase program to be utilized over time.
This new program is in addition to the $4.9 billion remaining under the company’s
current authorization.
“We are confident in the business and focused on
maximizing total shareholder return, of which the dividend remains a key
component,” stated Ian Read, Pfizer chairman and chief executive officer.
With current price $ 43.80 (Friday's close), this raise
brings their dividend yield to 3.29%.
Since I own 235 shares of Pfizer, this will increase my
portfolio's projected annual net dividend income by $ 14.01.
That increase will rise my YOC to 4.95%.
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to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long PFE
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