Wednesday, November 4, 2020

Dividend Increase – AbbVie Inc. (ABBV)


On Friday, October 30 the Board of Directors of AbbVie Inc. announced a quarterly dividend increase of from $ 1.18 to $ 1.30 per share that’s payable February 16, 2020 to holders of record January 15, 2020. This represents a 10.12% increase over last quarterly 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.


With current price $ 88.25 (yesterday's close), this raise brings their dividend yield to 5.89%.


ABBV is a Dividend Challengers with a 9 year streak of dividend increases. Dividend growth rates for 1, 3 and 5 years are 19.2, 23.4 and 20.9 (Dividend Champions.xls)



Since I own 80 shares of ABBV, this will increase my portfolio's projected annual net dividend income by $ 28.61.


This increase raises my YOC to 7.58%.



Summary of 2020 Dividend Increases / Cuts



As you can see, some large dividend cuts will have the effect that full-year growth will be negative. I also believe that there will come more cuts during this year.



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long ABBV


Thanks for stopping by!


1 comment:

  1. ABBV is the machine. After so many 2020 cuts it's nice to see a solid divi increase.