When your vaccine business is firing on all cylinders and you're raising dividends, the market tends to notice. GSK Plc (GSK) proved that point Wednesday with a fourth-quarter report that sent shares to fresh highs.

The British pharmaceutical giant delivered core earnings of 68 cents per share (25.5 pence), comfortably beating the consensus forecast of 64 cents. That represented a 10% jump year-over-year, or 14% when measured at constant currency. Not bad for a company that's been working to refocus its portfolio and prove it can generate consistent growth.

Sales hit $11.46 billion (8.62 billion British pounds) for the quarter, an 8% increase at constant currency that exceeded analyst estimates of $11.19 billion. The stock is now trading above its previous 52-week range of $32.38 to $53.38, which tells you how investors feel about the momentum.

Vaccine Sales Drive the Quarter

Vaccine sales edged 4% higher to 2.29 billion pounds, powered by strong demand outside the U.S. for Shingrix, Arexvy, and Meningitis vaccines. The gains were partially offset by softer U.S. demand for Shingrix, Arexvy, and Influenza vaccines, along with weaker international sales of established vaccines. But here's the interesting part: growth in the quarter got a notable boost from higher Shingrix sales in China, showing how emerging markets can move the needle.

Shingrix, the company's blockbuster shingles vaccine, posted 20% growth to reach 1.01 billion pounds. Arexvy sales climbed 25% to 198 million pounds, while Meningitis vaccine sales increased 6% to 313 million pounds. Established vaccine sales of 694 million pounds declined 14%.

Meanwhile, Specialty Medicines sales grew 15% (18% at constant currency) to 3.81 billion pounds in the quarter. General Medicines sales slipped 3% to 2.52 billion pounds.

"GSK delivered another strong performance in 2025, driven mainly by Specialty Medicines, with double-digit sales growth in Respiratory, Immunology & Inflammation (RI&I), Oncology and HIV..." said CEO Luke Miels.

Dividend Hike and Outlook

The board declared a fourth interim dividend of 18 pence per share for the fourth quarter of 2025, up from 16 pence a year earlier. That's the kind of cash return that income investors appreciate.

Looking ahead, GSK forecasts fiscal 2026 sales to increase between 3% and 5%. Specialty Medicine sales are expected to climb in the low double-digits, while vaccine and general medicine sales are projected to decline by a low single digit or remain stable. The company expects core operating profit and earnings per share to grow between 7% and 9%.

For fiscal 2031, the company is targeting sales of more than 40 billion pounds, giving investors a long-term growth story to hang their hats on.

"We expect this positive momentum to continue in 2026, which will be a key year of execution and operational delivery with strong focus on commercial launches and accelerating R&D. We are well placed to move forward in this next phase for GSK – to deliver our outlooks – and to create new value for patients and shareholders," Miels commented.

GSK Price Action: GSK shares were up 4.07% at $55.51 during premarket trading on Wednesday, marking a new 52-week high.