Pfizer ups dividend 26%

New York, Dec. 12 - Pfizer Inc. said it increased its quarterly dividend 26% to 24 cents per share.

The New York-based pharmaceutical company said it will use its "continuing strong cash flow from operations" to fund the increase while still investing in new products and growth opportunities.

"Increasing our dividend is the right thing to do for our shareholders, as we continue to build the investment value of Pfizer," said Hank McKinnell, chairman and chief executive of Pfizer, in a news release.

"The strength of our operations is reflected in the fact that we can substantially increase our dividend while we invest for long-term growth. We will continue to take action to leverage our competitive strengths on behalf of our shareholders."

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