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Pfizer approves $10B share buyback, raises quarterly dividend by 6%

Pfizer Inc.'s board approved a new $10 billion share repurchase program.

This new program is in addition to the $4.9 billion remaining under the company's current buyback authorization.

The New York-based pharmaceutical company's board also approved a quarterly dividend of 36 cents per common share for the first quarter of 2019.

Pfizer said the dividend represents a 6% increase from the prior dividend of 34 cents per share and is payable March 1, 2019, to shareholders of record as of Feb. 1, 2019.