Pfizer (PFE) is expanding beyond its COVID-19 vaccine, with revenue from launched and acquired products up 18% year over year in the second quarter and the midpoint of its full-year guidance raised. The company is building its oncology business through a collaboration with Innovent Biologics covering 12 early-stage cancer programs. Pfizer declared a quarterly dividend of $0.43, its 351st consecutive payout, equal to a forward yield of just over 6%. The article argues this dividend pays investors while the pipeline develops, though unlike Treasury bonds, Pfizer's share price and dividend depend on business performance.
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