Merck: dividend raised; new share buyback program.

(CercleFinance.com) - Merck said on Tuesday that it would increase its dividend by one cent and launched an additional 10 billion dollar stock repurchase program.


The US drugmaker said its quarterly dividend will rise to 0.48 dollar per share, up from 0.47 dollar per share, with payment made on 8 January to shareholders recorded as of 15 December.

Merck last announced a dividend increase in November 2016, when it upped its payout from 0.46 dollar to 0.47 dollar.

Merck also authorised an additional 10 billion dollars of share repurchases, with no time limit set for their completion.

"Our strong balance sheet, consistent performance and the strength of our underlying business allow us to increase the dividend and authorize additional opportunistic share repurchases," said CEO Kenneth Frazier.

The company's shares were up slightly in premarket trading (+0.1%).

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