U.S. drug manufacturer Pfizer Inc. (PFE, Financial) has announced a fourth-quarter dividend of 32 cents. The dividend is payable on Dec. 1 with an ex-dividend date of Nov. 9.
Pfizer’s dividend has remained steady at 32 cents since it was last increased in February 2017 from 30 cents. The company is reporting a one-year dividend growth rate of 7.14% and a three-year dividend growth rate of 7.72%.
The stock is trading at approximately $35.50. It is currently reporting one of the top 10 forward dividend yields in the Dow Jones Industrial Average at 3.61%.
Year to date, it has a return of 9.36%. For the one-year period it has gained 4.5%, and for the three-year period it has a return of 19.52%.
In the company’s most recent second-quarter earnings release, it reported revenue of $12.9 billion and earnings per share of 67 cents. Revenue for the quarter was just below analysts’ expectations and decreased -1.9% from the comparable quarter. Total revenue for the year is now $25.68 billion, which is a decrease of -2% from 2016.
Earnings per share of 67 cents beat estimates by one cent and increased 5% from the comparable quarter. Total earnings per share for 2017 are now $1.36, which is a 4% increase from 2016.
The company has two main business lines: innovative health and essential health. Innovative health currently accounts for 59% of total revenue and has a growth rate of 7% from 2016. Essential health is reporting 41% of revenue and a growth rate of -12%.
Revenues for the company are evenly distributed in the U.S. and internationally. The U.S. currently represents 51% of revenue while international is reporting 49% of revenue. Internationally, emerging markets is reporting the highest proportion of sales with 18%.
In recent news, Pfizer continues to obtain new drug approvals and it has also reported a lawsuit with Johnson & Johnson (JNJ, Financial). Pfizer is currently suing Johnson & Johnson for anticompetitive practices in regard to Remicade.
Pfizer currently has 5.95 billion shares outstanding with a market cap of $212 billion. Institutional investors currently own 67% of the outstanding shares. The stock’s top institutional investor is Vanguard Group with 6.62% of the shares outstanding.
Disclosure: I do not own any shares of Pfizer.
