Pfizer approves $10 billion share buyback program

Pfizer's board of directors has declared a 24 cent regular quarterly dividend and approved a new $10 billion share buyback program.

The New York-based drugmaker on Thursday said it will pay the dividend on September 4 to shareholders of record on August 2.

In addition to the new share buyback plan, Pfizer also has clearance to buy $3.9 billion shares from an earlier buyback program.