AMGN Amgen Inc

By Ben Glickman

Amgen is raising its dividend by 5.6%, marking the company's 12th consecutive year with an increased payout to shareholders.

The Thousand Oaks, Calif.-based pharmaceutical company said Tuesday it would pay a first-quarter dividend of $2.25 a share, up from a previous dividend of $2.13 a share.

The payout, equal to $9 a year, represents an annual yield of 3.3% based on the Tuesday closing price of $273.99 a share.

Amgen said the dividend was payable March 7 to shareholders of record Feb. 16.

Amgen said despite its regular dividend raises, it still continues to invest in innovation and deleveraging its balance sheet.

The company last lifted its payout a year ago, when it increased its dividend to $2.13 from $1.94.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

December 12, 2023 16:26 ET (21:26 GMT)

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