AbbVie (ABBV) raised its quarterly dividend by 10.3% to $1.18 a share from $1.07 a share. The new dividend will be payable Feb. 14 to shareholders of record on Jan. 15. At the current stock price of $ 81.75 (as of November 1, 2019), the (forward) dividend yield is 5.77%. This is a high yield, at more than double the average dividend yield of the S&P 500 Index and puts AbbVie in the top-3 of high yielding aristocrats.
AbbVie also raised its 2019 adjusted EPS guidance range to $8.90 to $8.92 from $8.82 to $8.92. Members can use the dividend aristocrats screener to find for example undervalued dividend stocks with a high yield and high DGR.
The 3-year dividend growth rate (DGR) is very fast at 21.13% and the payout ratio is still in the safe-zone of 50%.
In October 2011, Abbott Laboratories announced the split into two separate companies. AbbVie’s listing on the stock exchange began on 2 January 2013. Based on the dividend history of Abbott Laboratories, AbbVie qualifies also as a dividend aristocrat.