Pfizer's Dividend Streak Stalls at $0.43 as Peers Keep Raising

Corporate ActionEarnings
โดย 24/7 Wall St.·US·Read original
Summary · why it matters

Pfizer's decade-long streak of annual dividend increases has stalled, with its quarterly payout holding at $0.43 through the September 1, 2026 payment after the January 2026 ex-dividend date matched the prior four quarters instead of rising. The 6.20% yield remains covered by reaffirmed 2026 adjusted diluted EPS guidance of $2.80 to $3.00 against a run-rate $1.72 annual payout, and Q1 2026 adjusted EPS of $0.75 beat consensus for a fifth consecutive quarter above estimates. Cash outflow is real, with $2.4 billion in dividends paid in Q1 alone and $9.8 billion for full-year 2025, while Pfizer completed no buybacks in 2025 and anticipates none in 2026 despite $3.3 billion of unused authorization. On the August 4, 2026 call, incoming interim CFO Cecile Guegan said Pfizer would keep maintaining and over the long term growing the dividend, and Chairman and CEO Albert Bourla said the dividend will be maintained and eventually start growing again after the loss-of-exclusivity period. Peers have not frozen their payouts: Merck raised its quarterly from $0.81 to $0.85 starting with the December 2025 ex-date, and Bristol-Myers Squibb nudged its payout from $0.62 to $0.63 with the January 2026 ex-date. The pressure behind the pause is visible in the mix, with Comirnaty down 59% and Paxlovid down 62% in Q1 2026 and roughly $1.5 billion in additional generic and biosimilar headwind guided for the year, partly offset by launched and acquired products growing 22% operationally and Vyndamax exclusivity now running to June 2031.

Impact on stocks 4

Biotech & Genomic Medicine± Mixed · 3 stocks
Pfizer Inc
PFE
▼ NegativeCapitalDemandrelevance

Pfizer's decade-long streak of annual dividend increases stalled at $0.43, with no buybacks in 2025 or 2026 despite $3.3 billion unused authorization.

Bristol-Myers Squibb Company
BMY
▲ PositiveCapitalrelevance

Bristol-Myers Squibb nudged its quarterly payout from $0.62 to $0.63 with the January 2026 ex-date, continuing to raise dividends while Pfizer's stalled.

Merck & Company Inc
MRK
▲ PositiveCapitalrelevance

Merck raised its quarterly dividend from $0.81 to $0.85 starting with the December 2025 ex-date, in contrast to Pfizer's frozen payout.

Critical Materials & Supply Chain▲ · 1 stocks
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