Pfizer hikes dividend by 2.5%

On December 9, 2022, global biopharmaceutical company Pfizer (PFE) announced that it will raise its quarterly dividend by 2.5 percent to 41 cents per share quarterly. This marks the 12th consecutive year of dividend increases by PFE.

The next PFE dividend is payable March 3, 2023 to holders of the Common Stock of record at the close of business on January 27, 2023. A new annual dividend rate of $1.64 per share yields 3.1% at a stock price of $52.16. The first-quarter 2023 cash dividend will be the 337th consecutive quarterly dividend paid by Pfizer.

“Our ability to increase our dividend is a testament to our solid financial performance during 2022,” said Dr. Albert Bourla, Pfizer Chairman and Chief Executive Officer. “This increase reinforces Pfizer’s commitment of returning value to our shareholders.”

Pfizer Inc. is a biopharmaceutical company with a global portfolio that includes medicines, vaccines and consumer healthcare products. The company runs its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The majority of Pfizer's revenues come from the manufacture and sale of biopharmaceutical products. The company's brands include Advil, Centrum, Prevnar 13, Xeljanz, Eliquis, Lipitor, Celebrex, Pristiq and Viagra. Pfizer was incorporated in 1942 and had its IPO in 1944.