Pfizer (PFE), the world's largest drugmaker, set the tone in January by offering $68 billion in cash and stock for rival Wyeth (WYE). To help fund its purchase, which is expected to close before year's end, Pfizer slashed its 32-cents-a-share quarterly common dividend in half, for an annual savings of more that $4 billion. Last Wednesday, however, Deutsche Bank analyst Barbara Ryan opined in a note to clients that Pfizer could be poised to declare a 15%-25% payout boost in December, bringing its annual disbursement to as much as 80 cents a share, versus 64 cents now, and then to more than 90 cents in the next couple of years.

As for the rest of Big Pharma, Ryan sees dividends staying flat because of merger loans. "While making acquisitions, Merck [MRK], Eli Lilly [LLY] and Bristol-Myers Squibb [BMY] have not reduced dividends; however, we suspect that this means that they are unlikely to increase them much in the future."

As for the rest of Big Pharma, Ryan sees dividends staying flat because of merger loans. "While making acquisitions, Merck [MRK], Eli Lilly [LLY] and Bristol-Myers Squibb [BMY] have not reduced dividends; however, we suspect that this means that they are unlikely to increase them much in the future."

As for the rest of Big Pharma, Ryan sees dividends staying flat because of merger loans. "While making acquisitions, Merck [MRK], Eli Lilly [LLY] and Bristol-Myers Squibb [BMY] have not reduced dividends; however, we suspect that this means that they are unlikely to increase them much in the future."

last Tuesday, Equity LifeStyle Properties (ELS) sweetened its quarterly common payout to 30 cents a share from 25 cents, for a 2.85% yield. The respective distribution, record and ex-dividend dates are Oct. 9, Sept. 25 and Sept. 23. The shares trade on the Big Board at around 42, roughly a dozen points under their 52-week high. The 52-week low: 22.61. In rating the stock Buy, S&P cites the Chicago company's focus on "empty-nester and retiree tenants, who generally have limited but stable incomes and decent credit profiles."