Merck & Co., in moves to assure...

Merck & Co., in moves to assure its status as one of Wall Street’s highest-flying stocks, will boost its dividend sharply and buy back up to $1 billion worth of its shares. Merck stock, which rose $4.50 a share on Monday, jumped another $2 to $186.50 after the announcement. The pharmaceuticals concern’s stock is now at three times the 1986 low. The size of the dividend increase surprised some on Wall Street. The 45.5% boost to 80 cents a share from 55 cents topped most analysts’ estimates. The $1-billion stock buyback plan surpasses the year-ago share repurchase program of $500 million. Merck has 136.7 million shares outstanding.