On December 18th, Pfizer Inc. announced a dividend increase of 6.3%. This will increase their dividend from $0.32 to $0.34. It is payable on March 1st for shareholders of record on February 2nd.
This will mark the 7th consecutive annual dividend increase. With a payout ratio around 52% I think they will be able to continue this streak for many more years to come.
Pfizer is one of the few stocks that I hold in the Healthcare sector. It is the only pharmaceutical company that I currently own. Pfizer has performed nicely for me since I originally made my purchase in February of this year.
A small dividend increase will not affect my income a whole lot since I don’t have a large position in the company. With this increase it will add an additional $0.43 to my quarterly dividend and will add $1.73 to my projected annual dividend income.
At the current time, Pfizer is priced above my cost basis so I will not be looking to add anymore shares to my portfolio. If it were to drop below my cost basis though I would love to add to this position. Until this happens I will have to settle with reinvesting the dividends.
Do you currently hold any stock in Pfizer? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
Be sure and follow me on your favorite social media platform:
MoreDividendsdotcom on Facebook
@MoreDividends on Twitter