Gilead Raises Dividend (Update)
Following its earnings report, Gilead Sciences, Inc. (NASDAQ: GILD – $73.13) announced that the Board of Directors declared an increase of 10% in the company’s quarterly cash dividend, beginning in the first quarter of 2017. The dividend increase will result in a quarterly payout of $0.52 per share of stock or $2.08 on an annualized basis. The dividend is payable on March 30, 2017, to stockholders of record at the close of business on March 16, 2017. The new distribution raises the Foster City, California-based biotech’s yield to 2.85%.