NEW YORK--(BUSINESS WIRE)--The board of directors of Pfizer Inc. (NYSE: PFE) today declared an 18-cent first-quarter 2010 dividend on the company’s common stock, payable March 2, 2010, to shareholders of record at the close of business on February 5, 2010. Pfizer increased the dividend by 12.5 percent, to 18 cents from 16 cents per share.
“The board has determined that a measured dividend increase can be supported at this time,” said Jeffrey Kindler, Pfizer Chairman and Chief Executive Officer. “This increase is a testament to our commitment to enhance shareholder value and our confidence in our business and our ability to rapidly integrate Wyeth and realize the anticipated benefits of the acquisition. While the dividend level remains a decision of the board and will continue to be evaluated in the context of future business performance, we currently believe that we can support future annual dividend increases, barring significant unforeseen events.”
The first-quarter 2010 cash dividend will be the 285th consecutive quarterly dividend paid by Pfizer.
DISCLOSURE NOTICE: The information contained in this release is as of December 14, 2009. Pfizer assumes no obligation to update forward-looking statements contained in this release as the result of new information or future events or developments.
This release contains forward-looking information that involves substantial risks and uncertainties concerning the ability to support future dividend increases and to realize the anticipated benefits of the Wyeth acquisition. Such risks and uncertainties include, among other things, the Company’s future financial performance; general economic, political, business, industry, regulatory and market conditions; and the risk that the anticipated benefits of the Wyeth acquisition will not be realized or will not be realized within the expected time period. A further list and description of risks and uncertainties can be found in Pfizer’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008 and in its reports on Form 10-Q and Form 8-K.