Dividend Aristocrat Abbott Laboratories ups dividend by 25%

abbott 2021 dividend increase 25 pct
Dividend Aristocrat Abbott Laboratories (ABT) will raise its quarterly dividend by 25% to $0.45 per share in the first quarter of 2021. This is by far the biggest increase announced by the company since it separated from fellow Aristocrat AbbVie (ABBV).

This marks the 388th consecutive quarterly dividend to be paid by Abbott since 1924. The increases cash dividend is payable Feb. 16, 2021, to shareholders of record at the close of business on Jan. 15, 2021.

The new annualized dividend rate of $1.80 per share yields 1.7% at a stock price of $107.

"Paying a strong and growing dividend is foundational to Abbott," said Robert B. Ford, president and chief executive officer, Abbott. "The increase reflects the strength and momentum of Abbott's diversified business and our ability to invest in future growth while returning immediate value to shareholders."

Abbott has increased its dividend payout for 49 consecutive years and is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends annually for at least 25 consecutive years.

Earlier this year AbbVie also announced a double digit dividend increase.

Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 103,000 colleagues serve people in more than 160 countries.

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