Board of Directors approves increase in quarterly cash dividend to
$0.36 per share and authorizes new $10 billion share repurchase program
NEW YORK--(BUSINESS WIRE)--
The board of directors of Pfizer Inc. today declared a 36-cent
first-quarter 2019 dividend on the company’s common stock, payable March
1, 2019, to shareholders of record at the close of business on February
1, 2019. Pfizer increased the dividend by approximately 6 percent, to 36
cents from 34 cents per share. The first-quarter 2019 cash dividend will
be the 321st consecutive quarterly dividend paid by Pfizer.
Keeping with past practice, the board of directors also authorized a new
$10 billion share repurchase program to be utilized over time. This new
program is in addition to the $4.9 billion remaining under the company’s
current authorization.
“We are confident in the business and focused on maximizing total
shareholder return, of which the dividend remains a key component,”
stated Ian Read, Pfizer chairman and chief executive officer.
About Pfizer: Working together for a healthier world
®
At Pfizer, we apply science and our global resources to bring therapies
to people that extend and significantly improve their lives. We strive
to set the standard for quality, safety and value in the discovery,
development and manufacture of health care products. Our global
portfolio includes medicines and vaccines as well as many of the world's
best-known consumer health care products. Every day, Pfizer colleagues
work across developed and emerging markets to advance wellness,
prevention, treatments and cures that challenge the most feared diseases
of our time. Consistent with our responsibility as one of the world's
premier innovative biopharmaceutical companies, we collaborate with
health care providers, governments and local communities to support and
expand access to reliable, affordable health care around the world. For
more than 150 years, we have worked to make a difference for all who
rely on us. We routinely post information that may be important to
investors on our website at www.pfizer.com.
In addition, to learn more, please visit us on www.pfizer.com
or follow us on Twitter at @Pfizer
and @Pfizer_News,
LinkedIn,
YouTube
and like us on Facebook at Facebook.com/Pfizer.
DISCLOSURE NOTICE: The information contained in this release is as of
December 14, 2018. The Company assumes no obligation to update
forward-looking statements contained in this release as a result of new
information or future events or developments.
This release contains forward-looking information about the Company’s
share repurchase program, business and total shareholder return that
involves substantial risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by such
statements. Risks and uncertainties include, among other things, the
uncertainties inherent in research and development; the uncertainties
inherent in business and financial planning, including, without
limitation, risks related to Pfizer’s business and prospects, adverse
developments in Pfizer’s markets, or adverse developments in the U.S. or
global capital markets, credit markets, regulatory environment or
economies generally; and competitive developments.
A further description of risks and uncertainties can be found in
Pfizer’s Annual Report on Form 10-K for the fiscal year ended December
31, 2017 and in its subsequent reports on Form 10-Q, including in the
sections thereof captioned “Risk Factors” and “Forward-Looking
Information and Factors That May Affect Future Results,” as well as in
its subsequent reports on Form 8-K, all of which are filed with the U.S.
Securities and Exchange Commission and available at
www.sec.gov
and
www.pfizer.com
.
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Media Contact:
Patricia Kelly
(212) 733-3810
Investor Contact:
Ryan Crowe
(212) 733-8160
Source: Pfizer Inc.