Pfizer lifts dividend, yield closer to rivals

The shares of the world's largest drugmaker rose modestly after the dividend increase, which had been expected by many investors. The rise was within the 10 percent to 20 percent range some industry analysts had forecast.

Pfizer said its board of directors approved an 18 cent dividend for the first quarter of 2010, up from its current dividend of 16 cents on the company's common stock.

"The board has determined that a measured dividend increase can be supported at this time," company Chief Executive Officer Jeffrey Kindler said in a release.

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- Posted: 2009-12-14 16:11:56

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