Bristol-Myers Squibb (BMY) will raise its dividend by 2.5 percent to $0.41 quarterly in the first quarter of 2019. The pharmaceutical company has now raised its dividend for 11 consecutive years.

The next quarterly dividend will be payable on February 1, 2019, to stockholders of record at the close of business on January 4, 2019.

A new annualized dividend rate of $1.64 per share for BMY yields 3.1% at a stock price of $53.08.

Bristol-Myers Squibb Company is is a global specialty biopharmaceutical company.  Bristol-Myers is developing new medicines in the following core therapeutic areas: oncology with a priority in certain tumor types; immunoscience with priorities in psoriasis, lupus, RA and inflammatory bowel disease;  cardiovascular with a priority in heart disease and; fibrotic disease with priorities in lung and liver. The company's top drugs include Opdivo (infused biologic immuno-oncology treatment) and Eliquis (anticoagulation).