By Ben Glickman

 

Merck & Co. raised its quarterly dividend 5.5% on Tuesday.

The Rahway, N.J.-based pharmaceutical company lifted its payout to 77 cents a share from 73 cents a share.

The new payout, equal to $3.08 a year, represents an annual yield of 3.04% based on the Nov. 27 closing price of $101.43.

Merck's dividend is payable Jan. 8 to shareholders of record as of Dec. 15.

The company last raised its dividend in November 2022, when it lifted the payout to 73 cents from 69 cents.

 

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

November 28, 2023 13:55 ET (18:55 GMT)

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