U.S. Markets open in 5 hrs 35 mins

Mead Johnson raises dividend to 34 cents

GLENVIEW, Ill. (AP) -- Infant formula maker Mead Johnson Nutrition Co. said Wednesday that it is raising its quarterly dividend to 34 cents per share from 30 cents, and increase of 13 percent.

The dividend will be paid April 1 to shareholders of record on March 13.

The maker of Enfamil last increased its dividend a year ago.

Mead Johnson shares rose 23 cents to close at $74.65.