Pfizer (PFE) will raise its quarterly dividend to $0.32 per share, payable March 1, 2017, to shareholders of record at the close of business on February 3, 2017. 

“The dividend increase demonstrates our continued commitment to deliver value to our shareholders and our confidence in the business,” stated Ian Read, Pfizer chairman and chief executive officer. “We remain focused on maximizing total shareholder return, and the dividend is a key component.”

Based on the current stock price of $32.52 and a new annual dividend of $1.28 per share the indicated dividend yield for Pfizer is 3.9%.

Pfizer Inc. is a biopharmaceutical company with a global portfolio that includes medicines, vaccines and consumer healthcare products. The company runs its commercial operations through two business segments: Pfizer Innovative Health (IH) and Pfizer Essential Health (EH). The majority of Pfizer's revenues come from the manufacture and sale of biopharmaceutical products. The company's brands include Advil, Centrum, Prevnar 13, Xeljanz, Eliquis, Lipitor, Celebrex, Pristiq and Viagra. Pfizer was incorporated in 1942 and had its IPO in 1944.