Wednesday, October 30th the Board of Directors of AbbVie Inc. (ABBV) announced a quarterly dividend increase of from $1.55 to $1.64 per share that’s payable February 14, 2025 to holders of record January 15, 2025. This represents a 5.81% increase over the last quarterly dividend. Since the company's inception in 2013, AbbVie has increased its quarterly dividend by 310 percent.
With current price $200.47 (yesterday's close), this raise brings their dividend yield to 3.27%.
AbbVie is a Dividend Contenders with an 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.0, 7.8, 10.5 and 14.0 (Dividend Champions.xls)
Since I own 80 shares of ABBV, this will increase my portfolio's projected annual net dividend income by $21.46.
The announced increase was in line with my expectations.
This is the tenth dividend increase I received from ABBV since initiating a position October 2016. During this period, the quarterly dividend has jumped from $0.57 to $1.64, an increase of 188%.
This increase raises my YOC to 9.56%.
Summary of 2024 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long ABBV
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