$56 billion drug maker Bristol-Myers Squibb (BMY) has had a strong year in 2011; shareholders have seen their stakes appreciate more than 25% since the first trading day of January. Now management is upping the ante, hiking the firm's quarterly dividend by 3.03% to 34 cents per share.
While that doesn't sound like much of an increase, BMY is already a perennially high-yielding stock (and one of the top-yielding drug stocks). Shares currently pay out a 4.08% yield on current share price levels.Bristol's pharmaceutical pipeline puts it a step ahead of most of its peers. The firm treats its pipeline like any good portfolio manager, diversifying away the risks of failure though exposure to a significant number of treatments as well as partnerships with peer firms.
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