Pfizer authorizes $10B share buyback

Pfizer's board of directors approved a $10 billion share repurchase program Monday and raised its quarterly dividend, according to CNBC.

The new share buyback program comes in addition to the $6.4 billion remaining under current authorization.

The quarterly dividend was raised from 32 cents to 34 cents per share, which equates to an annual dividend of $1.36 per share. The increased dividend will be payable to shareholders Mar. 1, 2018.

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