Merck & Co (MRK) will raise its quarterly dividend by 2.7 percent to 38 cents per share in 2004. This follows a one cent per share dividend hike to 37 cents quarterly last year.

The next dividend will be paid on October 1, 2004 to shareholders of record on September 3, 2004. The ex-dividend date is September 1, 2004.

Merck & Co., Inc. is a global heathcare company known as MSD outside of the United States and Canada. The company's core product categories include diabetes, cancer, vaccines and hospital acute care. Its products include prescription medicines, vaccines, biologic therapies, and animal health products.