Friday, December 10th the Board of Directors of Pfizer Inc. (PFE) announced a quarterly dividend increase of from $ 0.39 to $ 0.40 per share that’s payable March 4, 2022 to holders of record January 28, 2022. This represents a 2.56% increase over the last quarterly dividend.
“The increase in dividend is a direct reflection of our strong financial performance and continued confidence in our current product portfolio and R&D pipeline,” said Dr. Albert Bourla, Pfizer Chairman and Chief Executive Officer.
With current price $ 58.36 (today's open), this raise brings their dividend yield to 2.74%.
Pfizer is a Dividend Contenders with an 12 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.6, 5.9, 6.3 and 7.8 (Dividend Champions.xls)
Since I own 250 shares of PFE, this will increase my portfolio's projected annual net dividend income by $ 7.45.
At first the increase seemed very low, but when I think that Pfizer did not cut the dividend in the second quarter after the Viatris spin-off, as was expected, I am very happy with this "low" increase.
This is the ninth dividend increase I received from Pfizer since initiating a position August 2013. During this period, the dividend has grown moderately from $0.24 to $0.40 or 66.7%
This increase raises my YOC to 5.21%.
Summary of 2021 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long PFE
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