Pfizer just raised its dividend by 2.4% to $0.43, giving investors something to cheer about despite the stock’s lackluster performance lately. It is down 13% YTD and 30% in the last 5 years. The stock even missed the weight loss drugs craze as the company doesn’t make such medicine. Amidst this gloom, new investors continue to find the stock attractive. Thanks to the dividend raise, the forward dividend yield stands at 6.7%, something that can’t be ignored for a strong company like Pfizer.

Pfizer Inc. is a leading global biopharmaceutical company that discovers, manufactures, and commercializes various medicines and vaccines. The company had a great impact during the pandemic thanks to using mRNA technology to develop its COVID-19 vaccine, which dominates the market with over 2.5 billion doses.

Since it was founded, in 1849, the company has made significant contributions to the pharmaceutical industry including supplying morphine and iodine to the Union Army during the Civil War; supplying 90% of the penicillin used by U.S. forces during the Normandy invasion; and the introduction of Viagra in 1998.

Currently, Eliquis is the major contributor to total revenue, representing approximately 22% of Pfizer’s total revenue. This anticoagulant reduces the risk of stroke and systemic embolism in patients with atrial fibrillation.

The COVID-19 vaccine, Comirnaty, and the antiviral treatment used to reduce severe outcomes from COVID-19, known as Paxlovid, together generate about 21% of total revenue.

Other relevant products are Prevnar 13, a pneumococcal vaccine; Ibrance, breast cancer treatment; and Vyndaqel/Vyndamax, which addresses a rare but serious heart condition.

The U.S. market accounts for approximately 52% of Pfizer’s total revenue, while Europe accounts for about 25%. Pfizer operates globally and its client base includes hospitals, government agencies, and NGOs which facilitate access to its medicines and vaccines.

Pfizer’s asset portfolio is impressive. Its vaccines are second to none, though one could argue that vaccines aren’t the most desirable product in a pharma company’s portfolio owing to a lack of pricing power. The company’s vaccination for Lyme disease, expected to be sent to regulators for approval in 2026, will further cement its place as a leader in the pharma industry.

The company’s Oncology revenues saw a 31% YoY increase, impressive for a company that is already the third largest by revenue in the US. On the financial front, strong earnings guidance for the next year is exciting investors, though the impact of this excitement is yet to be seen on the stock price.