Thursday, December 12th the Board of Directors of Pfizer Inc. (PFE) announced a quarterly dividend increase of from $0.42 to $0.43 per share that’s payable March 7, 2025 to holders of record January 24, 2025. This represents a 2.38% increase over the last quarterly dividend.
“Our decision to increase our quarterly dividend underscores our strong financial performance, disciplined execution and our commitment to returning value to our shareholders,” said Dr. Albert Bourla, Pfizer Chairman and Chief Executive Officer.
With current price $25.77 (yesterday's close), this raise brings their dividend yield to 6.67%.
Pfizer is a Dividend Contenders with a 15 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.5, 32.6, 3.8 and 5.5 (Dividend Champions.xls)
Since I own 250 shares of PFE, this will increase my portfolio's projected annual net dividend income by $7.45.
I was expecting a slightly higher increase, but for the third time in a row there was a one cent increase in the quarterly dividend. On the other hand, an increase is always an increase.
This is the twelfth dividend increase I received from Pfizer since initiating a position August 2013. During this period, the dividend has grown moderately from $0.24 to $0.43 or 79.2%
This increase raises my YOC to 5.60%.
Summary of 2024 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long PFE
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