Pfizer announces new dividend increase for Q1 2014

Pfizer has announced that its board of directors has declared a dividend of $0.26 (0.16 pounds) for the first quarter of 2014.

This latest dividend increase has been approved in light of the company's recent strong business performance and will be made payable on March 4th 2014  to shareholders of record at the close of business on February 7th.

Pfizer increased the dividend by more than eight percent from $0.24. This first-quarter 2014 cash dividend will be the 301st consecutive quarterly dividend paid by the organisation.

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 our confidence in the business. As always, we are focused on maximising total shareholder return."

Earlier this month, it was announced that Pfizer's UK managing director Jonathan Emms has been elected as the new president of the Association of the British Pharmaceutical Industry, an appointment that will come into effect in April 2014.