By Dean Seal
The board of Royalty Pharma has raised its quarterly dividend by a penny, or 5%, to 22 cents a share.
The company, which buys rights to royalties on pharmaceuticals, said Thursday the new dividend would be paid on March 15 to shareholders of record as of Feb. 21.
On an annualized basis, the new payout is 88 cents a share and represents a yield of about 3.4% based on Wednesday's closing price of $26.20.
Royalty Pharma last raised its dividend payout a year ago, taking it from 20 cents a share to 21 cents a share.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
January 09, 2025 16:45 ET (21:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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