Shareholders of drugmaker Merck ask CEO about propspects for higher dividend, stock price

Merck shareholders ask about dividend, stock price

NORTH BRANCH, N.J. — Shareholders of drugmaker Merck & Co. have peppered its CEO at their annual meeting with questions about what the company will do to boost its lagging stock price, boost dividends and improve performance.

The questions come after Chief Executive Richard T. Clark’s upbeat presentation about progress in integrating Schering-Plough Corp.

Merck bought its New Jersey neighbor for $41 billion last fall to boost its pipeline of experimental drugs and diversify into biologic medicines and consumer health products.

Clark says there are no immediate plans to raise the dividend but that Merck’s overall strategy should push up its share price.

Merck shares sold for more than $90 in 2001 and for $60 a few years ago.

They are down 39 cents at $31.37 in afternoon trading.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP’s earlier story is below.

NORTH BRANCH, New Jersey (AP) — Shareholders of drugmaker Merck & Co. have peppered its CEO at their annual meeting with questions about what the company will do to boost its lagging stock price, boost dividends and improve performance.

The questions come after Chief Executive Richard T. Clark’s upbeat presentation about progress in integrating Schering-Plough Corp.

Merck bought its New Jersey neighbor for $41 billion last fall to boost its pipeline of experimental drugs and diversify into biologic medicines and consumer health products.

Clark says there are no immediate plans to raise the dividend but that Merck’s overall strategy should push up its share price.

Merck shares sold for more than $90 in 2001 and for $60 a few years ago.

They are down 39 cents at $31.37 in afternoon trading.