Monday, December 17, 2018

Dividend Increase – Pfizer Inc. (PFE)

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%.

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long PFE

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