Pfizer Boosts Dividend by 11% (PFE)

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Pharmaceuticals giant Pfizer Inc. ( PFE ) late Monday announced an 11% increase in its quarterly dividend payout.

The new payout of 20 cents per share compared with a prior rate of 18 cents. The new dividend is payable March 1, 2011, to shareholders of record as of February 4, 2011. The ex-dividend date for the payout is February 2, 2011.

This news marks the first dividend increase since the company slashed its dividend by 50% back in early 2009 , amid plans to acquire fellow drugmaker Wyeth.

Pfizer shares rose 7 cents, or +0.4%, in premarket trading Tuesday.

The Bottom Line
Shares of Pfizer ( PFE ) have a 4.65% dividend yield, based on the higher dividend payout and last night's closing stock price of $17.19. The stock has technical support in the $15-$16 price area. If the shares can firm up, we see overhead resistance around the $18-$19 price levels.

Pfizer Inc. ( PFE ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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