Global pharmaceutical giant Merck & Co. Inc., in the Whitehouse Station section of Readington, announced Tuesday it has increased its quarterly dividend.

According to the announcement, its board has increased the company’s quarterly dividend to 44 cents per outstanding share of the company’s common stock, up one cent from 43 cents per outstanding share paid last quarter. Payment will be made on January 8, 2014, to stockholders of record at the close of business on December 16, 2013.