AbbVie raises dividend for 45th consecutive year

Dividend Aristocrat AbbVie (ABBV) will hike its dividend by 12.3%.

AbbVie will raise its quarterly dividend to $0.64 per share, marking 45 years of consecutive dividend increases, in case of AbbVie corrected for the Abbott Laboratories spinoff. After AbbVie was spun off by Abbott Laboratories the company paid its first dividend in 2013.

The cash dividend is payable February 15, 2017 to stockholders of record at the close of business on January 13, 2017.

Since the company's inception in 2013, AbbVie has increased its dividend by 60 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.

The new dividend yield for AbbVie is 4.5% based on today's $56.38 stock price.

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