Pharmaceuticals giant Pfizer Inc. (
) late Monday announced an 11% increase in its quarterly dividend
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
The Bottom Line
Shares of Pfizer (
) 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. (
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
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, as well as a detailed explanation of
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