Declares 20-Cent Second-Quarter 2011 Dividend
DALLAS--(BUSINESS WIRE)-- The board of directors of Pfizer Inc. today declared a 20-cent second-quarter 2011 dividend on the company’s common stock, payable June 7, 2011, to shareholders of record at the close of business on May 13, 2011. The second-quarter 2011 cash dividend will be the 290th consecutive quarterly dividend paid by Pfizer.
“Through dividends and share repurchases, we returned approximately $7.1 billion to our shareholders in 2010,” said Ian Read, president and chief executive officer. “In 2011, we plan to continue to provide greater shareholder return through our previously announced dividend increase and increased share repurchase activity.”
Preliminary results from the meeting indicate that the company’s 13 continuing directors were re-elected to one-year terms and that shareholders ratified the selection of KPMG LLP as Pfizer’s independent registered public accounting firm for the 2011 fiscal year. In addition, shareholders voted in support of a board-sponsored proposal to approve, on an advisory basis, the compensation of the company’s named executive officers.
In other voting, preliminary results indicate that shareholders selected an annual vote on the frequency of future advisory votes on executive compensation. “We acknowledge that our shareholders voted strongly in favor of an annual vote, and the board has decided to follow that vote,” said George Lorch, non-executive Chairman.
Six shareholder resolutions were not approved by the shareholders.
The final results are subject to verification by the independent election inspectors, which is not expected to significantly change the preliminary results. The final results will be reported in a Form 8-K to be filed by Pfizer with the Securities and Exchange Commission in the next few days.
Pfizer Inc: Working together for a healthier world™
At Pfizer, we apply science and our global resources to improve health and well-being at every stage of life. We strive to set the standard for quality, safety and value in the discovery, development and manufacturing of medicines for people and animals. Our diversified global health care portfolio includes human and animal biologic and small molecule medicines and vaccines, as well as nutritional products and many of the world’s best-known consumer products. Every day, Pfizer colleagues work across developed and emerging markets to advance wellness, prevention, treatments and cures that challenge the most feared diseases of our time. Consistent with our responsibility as the world’s leading biopharmaceutical company, we also collaborate with healthcare professionals, governments and local communities to support and expand access to reliable, affordable health care around the world. For more than 150 years, Pfizer has worked to make a difference for all who rely on us. To learn more about our commitments, please visit us at www.pfizer.com
DISCLOSURE NOTICE: The information contained in this release is as of April 28, 2011. The Company assumes no obligation to update forward-looking statements contained in this release as a result of new information or future events or developments.
This release contains forward-looking information about the Company’s plans with respect to dividends and share repurchases that involves substantial risks and uncertainties. A description of these risks and uncertainties can be found in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010 and in its reports on Forms 10-Q and 8-K.
Joan Campion, 212-733-2798
Suzanne Harnett, 212-733-8009
KEYWORDS: United States North America New York Texas
INDUSTRY KEYWORDS: Health Pharmaceutical Other Health