Merck (NYSE: MRK) declared a quarterly dividend of $0.55 per share, or $2.2 annualized. This is a 14.6% increase from the prior dividend of $0.48.

The dividend will be payable on January 8, 2019, to stockholders of record on December 17, 2018, with an ex-dividend date of December 14, 2018.

The annual yield on the dividend is 3.1 percent.

The Board also authorized an additional $10 billion of treasury stock purchases with no time limit for completion. The company has entered into a $5 billion accelerated share repurchase program under its expanded authorization.

For a dividend history and other dividend-related data on Merck (MRK) click here.