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

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.

"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)