Friday, October 29th the Board of AbbVie Inc. (ABBV) announced a quarterly dividend increase of from $ 1.30 to $ 1.41 per share that’s payable February 15, 2022 to holders of record January 14, 2022. This represents an 8.46% increase over the last quarterly 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.
With current price $ 116.53 (yesterday's close), this raise brings their dividend yield to 4.84%.
AbbVie is a Dividend Contenders with a 10 year streak of dividend increases. Dividend growth rates for 1, 3 and 5 years are 10.3, 22.6 and 18.5 (Dividend Champions.xls)
Since I own 80 shares of ABBV, this will increase my portfolio's projected annual net dividend income by $ 26.22.
This increase was in line with my expectations, in fact one cent higher than I expected.
This is the eighth dividend increase I received from AbbVie since initiating a position October 2016. During this period, the quarterly dividend has risen nicely from $0.51 to $1.41, or 176.5%.
This increase raises my YOC to 8.22%.
Summary of 2021 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long ABBV
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