Woodford favourite AstraZeneca raises dividend but profits fall

AstraZeneca, a stalwart of many income portfolios including Neil Woodford's, has said it will raise its dividend by 10% despite sounding an earnings warning for 2012.

The pharmaceutical giant reported pre-tax profits fell in Q4 to $2.05bn compared with $2.28bn in 2010. It also announced it is cutting a further 7,300 jobs and expects earnings to fall this year as...