Pfizer’s board of directors didn’t wait for the ink to dry on the Trump/GOP tax heist before announcing what they will do with the windfall.
(RTTNews.com) - Pfizer Inc. ( PFE ) said its board authorized a new $10 billion share repurchase program to be utilized over time. This new program is in addition to the $6.4 billion remaining under the company's current authorization.
The company declared a 34-cent first-quarter 2018 dividend on the company's common stock, payable March 1, 2018, to shareholders of record at the close of business on February 2, 2018. Pfizer increased the dividend by approximately 6 percent, to 34 cents from 32 cents per share.
How many Americans actually believe that multinational corporations — who receive the bulk of the new tax benefits — are going to use their newfound profits for hiring more workers, building new plants, R&D, or increasing workforce pay?