(BUSINESS WIRE)--The board of directors of Pfizer Inc. (NYSE: PFE) today declared a 24-cent first-quarter 2013 dividend on the company’s common stock, payable March 5, 2013, to shareholders of record at the close of business on February 1, 2013. Pfizer increased the dividend by approximately 9 percent, to 24 cents from 22 cents per share.

The first-quarter 2013 cash dividend will be the 297^th consecutive quarterly dividend paid by Pfizer.

“The dividend increase is a testament to our continued commitment to returning capital to shareholders and demonstrates our continued confidence in the business,” stated Ian Read, Pfizer chairman and chief executive officer. “We remain focused on total return to shareholders, of which the dividend is a key component.”