The board of directors of Pfizer Inc. (PFE) today declared a 34-cent first-quarter 2018 dividend on the company’s common stock, payable March 1, 2018, to shareholders of record at the close of business on February 2, 2018. Pfizer increased the dividend by approximately 6 percent, to 34 cents from 32 cents per share. The first-quarter 2018 cash dividend will be the 317th 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 $6.4 billion remaining under the company’s current authorization.

“The dividend increase and new repurchase program demonstrate our commitment to returning capital to shareholders and are supported by our continued confidence in the business,” stated Ian Read, Pfizer chairman and chief executive officer.

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