AstraZeneca to hike 2024 dividend by 7%

Biopharma giant AstraZeneca has announced that it will increase its annual dividend by 7%, which the board said demonstrates its confidence in the company's performance and cash generation.

The company said it would raise the annualised payout for 2024 by 20 cents to $3.10 per share.

AstraZeneca said the amount takes into account other capital allocation priorities as well as previously announced acquisitions and business development.

"This uplift is in line with our progressive dividend policy, which remains unchanged, and reflects the continuing strength of AstraZeneca's investment proposition for shareholders," said chair Michel Demaré.

No changes are planned to the scheduling of dividend payments, with the first interim dividend announced with half-year results and paid in September and the second announced with full-year results and paid in March.

"The board also reaffirms its commitment to AstraZeneca's progressive dividend policy," the company said in a statement.