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— Drug developer Pfizer Inc. said Monday that its board of directors boosted the quarterly dividend 11 percent.
The board declared a regular quarterly dividend of 20 cents per share, up from the prior amount of 18 cents.
The dividend is payable March 1 to shareholders of record as of Feb. 4.
In 2009, Pfizer halved its 32-cent quarterly dividend to help pay for the $68 billion buyout of Wyeth. The move angered investors as the stock price had languished at $20 or less for several years. In January, the company raised the dividend to 18 cents and said the board would again boost the dividend in December.
Shares of Pfizer rose 4 cents to $17.23 in after-hours trading, after rising 17 cents to close at $17.19 during the regular trading session.
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