Pharmaceutical maker Merck (NYSE: MRK) has declared its inaugural quarterly dividend of 2013, keeping it in line with its previous payout. For its Q2, the company is to hand out $0.43 per share of its common stock on April 5 to shareholders of record as of March 15, matching the disbursement from mid-December. Previously, the company paid $0.42 per share.
Merck has a strong track record of paying dividends, although it rarely adjusts its payout. From September 2004 to September 2011, the company distributed $0.38 nearly every quarter.
The newly announced dividend annualizes to an impressive $1.72 per share, which yields 4.1% at Merck’s current stock price of $42.42.
