AbbVie increases dividend for 49th consecutive year in 2021

Dividend Aristocrat AbbVie (ABBV) will raise its quarterly dividend by 10.2% to $1.30 per share next year. This is the 49th consecutive year of dividend increases by the biopharmaceutical company.

Last year AbbVie hiked its dividend by 10.3 percent, marking 48 consecutive years of higher dividends paid, adjusted for the Abbott Labs separation.

AbbVie is announcing today that its board of directors declared an increase in the company's quarterly cash dividend from $1.18 per share to $1.30 per share beginning with the dividend payable on February 16, 2021 to shareholders of record as of January 15, 2021. This reflects an increase of approximately 10.2 percent, continuing AbbVie's strong commitment to returning cash to shareholders through a growing dividend. Since the company's inception in 2013, AbbVie has increased its quarterly dividend by 225 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.

A new annual dividend of $5.20 per share will yield 6.1 percent at a current stock price of $85.10 for AbbVie. Year-to-date the stock price has lost 3.9%.

AbbVie is a global, research-driven biopharmaceutical company committed to developing innovative advanced therapies for some of the world's most complex and critical conditions. The company's mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. Abbvie's Humira medicine (for treatment of psoriasis and rheumatoid arthritis) is the world's best selling prescription medicine.