MADISON, N.J., Sept. 25 /PRNewswire-FirstCall/ -- At a meeting of its
Board of Directors, held today, Wyeth (NYSE: WYE) declared an increase in
its common stock dividend.
A dividend of thirty cents ($0.30) per share on the outstanding shares
of common stock was declared payable on December 1, 2008 to stockholders of
record at the close of business on November 13, 2008. This quarterly rate
represents a 7.1 percent increase per share from the previous quarter
($0.28).
The dividend increase is a result of Wyeth's positive cash position,
strong operating cash flow, receding diet drug litigation payments, and
management's confidence in both the short- and long-term growth prospects
for the Company. Wyeth's goal is to maintain financial flexibility to allow
for future growth opportunities while also providing value to its
shareholders.
Wyeth is one of the world's largest research-driven pharmaceutical and
health care products companies. It is a leader in the discovery,
development, manufacturing and marketing of pharmaceuticals, vaccines,
biotechnology products, nutritionals and non-prescription medicines that
improve the quality of life for people worldwide. The Company's major
divisions include Wyeth Pharmaceuticals, Wyeth Consumer Healthcare and Fort
Dodge Animal Health.
SOURCE Wyeth
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Related links:
http://www.wyeth.com
CONTACT:
Media Contact: Douglas Petkus,
+1-973-660-5218, or Investor Contact: Justin Victoria,
+1-973-660-5340, both of Wyeth
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