Dividend Aristocrat AbbVie raises dividend 8.5 percent in 2021
|Dividend Aristocrat AbbVie has raised its dividend 50 years in a row|
Biopharmaceutical company AbbVie (ticker ABBV) hikes the quarterly dividend by 8.5% to $1.41 per share, marking 50 years in a row of dividend increases by ABBV.
AbbVie is announcing today that its board of directors declared an increase in the company's quarterly cash dividend from $1.30 per share to $1.41 per share beginning with the dividend payable on February 15, 2022 to shareholders of record as of January 14, 2022. This reflects an increase of approximately 8.5 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 more than 250 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 rate of $5.64 per share for AbbVie yields 4.9% at a stock price of 114.67. AbbVie now pays almost $10 billion in dividends to shareholders annually. The 5 year CAGR for the dividend is a stunning 17.1 percent for ABBV. This new dividend hike for 2022 just announced however is the smallest since 2013, when AbbVie hiked the dividend by 'only' 8.1 percent. Last year AbbVie hiked its dividend by 10.2 percent.
AbbVie Inc. is a research-based biopharmaceutical company. AbbVie is engaged in research and development, manufacturing, commercialization and sale of medicines and therapies. AbbVie offers its products in various therapeutic categories, including Immunology products, which include Humira, Skyrizi and Rinvoq; Oncology products consists of Imbruvica and Venclexta; Aesthetics products include Botox Cosmetic, Juvederm Collection and other aesthetics; Neuroscience products, such as Botox Therapeutic, Vraylar, Duopa and Duodopa, and Ubrelvy; Eye care products consists of Lumigan, Alphagan and Restasis ; Women's health products incudes Lo Loestrin, Orilissa and other women's health; and Other key products, which includes Mavyret, Creon, Lupron, Linzess and Synthroid. AbbVie has been paying a dividend to shareholders every year since 2013, the year the company was separated from Abbott Labs.