Pfizer raises dividend 7 percent to 30 cents

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NEW YORK (AP) — Pfizer is raising its quarterly dividend by 7 percent to 30 cents per share starting next year.

The New York drugmaker said Monday it will pay the dividend March 2 to shareholders of record Feb. 5.

The maker of cholesterol fighter Lipitor last increased its dividend a year ago. It announced last month a $160 billion deal to combine with Allergan, creating the world's biggest drugmaker by sales.

Shares of Pfizer Inc. closed up 12 cents at $32.18. For the year to date shares are up 3.3 percent.

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