Merck & Co. Inc. announced on Tuesday a $10 billion share buyback program. The company also said that it has increased the quarterly dividend to 48 cents per outstanding share, up one cent from the prior quarter. The dividend, the company’s first increase since Nov. 2016, is to be paid to stockholders of record at end of day on Dec. 15. Merck shares were up 0.6% in Tuesday afternoon trade. Shares have dropped 13.4% over the last three months, compared with a 7% rise in the S&P 500 and a 8.4% rise in the Dow Jones Industrial Average .
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