Pfizer Raises Dividend 6%, Sets New $10 Billion Buyback Program

By Chris WackFeaturesDow Jones Newswires

Pfizer Inc. (PFE) on Monday said it raised its quarterly dividend by 6% to 34c from 32c, starting in the first quarter.

The drug maker also authorized a new $10 billion stock-buyback plan. The new program is in addition to the $6.4 billion remaining under the company's current authorization.

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"The dividend increase and new repurchase program demonstrate our commitment to returning capital to shareholders," Pfizer CEO Ian Read said.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 18, 2017 12:17 ET (17:17 GMT)