Friday, October 27th the Board of Directors of AbbVie Inc. (ABBV) announced a quarterly dividend increase of from $1.48 to $1.55 per share that’s payable February 15, 2024 to holders of record January 16, 2024. This represents a 4.73% increase over the last quarterly dividend.
With current price $141.18 (yesterday's close), this raise brings their dividend yield to 4.39%.
AbbVie is a Dividend Contenders with an 12 year streak of dividend increases. Dividend growth rates for 1, 3 and 5 years are 8.5, 9.6 and 17.1 (Dividend Champions.xls)
Since I own 80 shares of ABBV, this will increase my portfolio's projected annual net dividend income by $16.69.
The announced increase was in line with my expectations.
This is the ninth dividend increase I received from ABBV since initiating a position October 2016. During this period, the quarterly dividend has risen spectacularly from $0.57 to $1.55, or 172 percent.
This increase raises my YOC to 9.04%.
Summary of 2023 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long ABBV
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