Wednesday, November 2, 2022

Dividend Increase - AbbVie Inc. (ABBV)


Friday, October 28th the Board of Directors of AbbVie Inc. (ABBV) announced a quarterly dividend increase of from $ 1.41 to $ 1.48 per share that’s payable February 15, 2023 to holders of record January 3, 2023. This represents a 4.96% increase over the last quarterly dividend.


With current price $ 147.03 (today's open), this raise brings their dividend yield to 4.03%.



AbbVie is a Dividend Contenders with an 11 year streak of dividend increases. Dividend growth rates for 1, 3 and 5 years are 10.2, 13.1 and 17.9 (Dividend Champions.xls)



Since I own 80 shares of ABBV, this will increase my portfolio's projected annual net dividend income by $ 16.69.


I was expecting the quarterly dividend to rise to a $1.50, or a little over six percent, so this increase was a little below my expectation, but this also works for me.


This is the ninth 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 $1.48, or 190.2%.


This increase raises my YOC to 8.63%.



Summary of 2022 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long ABBV


Thanks for stopping by!


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