Shares of Pfizer (PFE) - Get Pfizer Inc. Report were climbing higher in afternoon trading on Monday, after the company announced a quarterly dividend of 32 cents per share, or $1.28 annualized. This represents a 6.7% uptick from the prior dividend of 30 cents.
Shareholder and CEO of Lebenthal Asset Management Jim Lebenthal reacted to the report of the increased dividend during CNBC's "Halftime Report" on Monday.
"I'm not going to pour gas on this. I'm just going to say a dividend rate hike, which is indicative of earnings strength going forward, to me is far more important than a Trump tweet, which has a half-life of 24 hours," Lebenthal stated.
(Pfizer is held in the Dividend Stock Advisor portfolio. See all of the holdings with a free trial.)