By Denny Jacob

 

Pfizer increased its quarterly cash dividend 2.4% to 42 cents a share from 41 cents.

The new payout, equal to $1.68 a year, represents an annual yield of 6.4% based on Thursday's closing price of $26.13.

The drugmaker said the dividend is payable on March 1 to shareholders of record at the close of business on Jan. 26.

News of the increased dividend comes a day after Pfizer said its revenue could fall next year and issued 2024 guidance below analysts' expectations, sending its shares to its lowest close in more than nine years.

 

Write to Denny Jacob at denny.jacob@wsj.com

 

(END) Dow Jones Newswires

December 14, 2023 16:59 ET (21:59 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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