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Pfizer approves $10 billion share buyback program

Updated at: 06/27/2013 5:35 PM
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(AP) NEW YORK - Pfizer’s board of directors has declared a 24 cent regular quarterly dividend and approved a new $10 billion share buyback program.

The New York drugmaker said Thursday that it will pay the dividend on Sept. 4 to shareholders of record on Aug. 2.

In addition to the new share buyback plan, Pfizer also has clearance to buy $3.9 billion shares from an earlier buyback program.

Pfizer Inc. shares rose 8 cents to $28.18 in regular trading. The stock added 37 cents to $28.55 in extended trading.

(Copyright 2013 by The Associated Press. All Rights Reserved.)