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.

    ReplyDelete