Pfizer declares first-quarter dividend for 2013

Pfizer has announced that its board of directors has declared a 24-cent (14.8 pence) first-quarter 2013 dividend on the company’s common stock.

This represents an increase of approximately nine percent and will be the 297th consecutive quarterly dividend paid by the pharmaceutical giant.

Shareholders of record at the close of business on February 1st 2013 will receive the dividend payment on March 5th, with Pfizer stating that this latest move is indicative of its commitment to delivering strong returns for shareholders.

Ian Read, Pfizer's chairman and chief executive officer, said: "The dividend increase is a testament to our continued commitment to returning capital to shareholders and demonstrates our continued confidence in the business."

Earlier this month, the company announced its support for the Worldwide Innovative Network Consortium, an organisation dedicated to improving access to personalised cancer therapies around the world.

The firm is the first pharmaceutical company to become a member of the consortium, which now has 25 members, including academic, industry and patient advocacy groups.