By Colin Kellaher
Merck & Co. (MRK) on Tuesday said its board raised the quarterly dividend by 10.9% to 61 cents from 55 cents.
The new payout, equal to $2.44 a year, represents an annual yield of about 2.9% based on Monday's closing price of $84.13, up from 2.62%.
The Kenilworth, N.J., drug maker said the increased dividend is payable Jan. 8 to shareholders of record Dec. 16.
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