AbbVie Declares Quarterly Dividend, Launches Stock Buybacks

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AbbVie (NYSE: ABBV ) has declared a quarterly dividend and instituted a share repurchase program. The dividend is $0.40 per share of the firm's common stock, which is to be paid May 15 to shareholders of record as of April 15. That payout annualizes to $1.60, yielding 4.3% on the company's current share price of $37.58.

This is the second dividend payment in AbbVie's short history, and its amount matches the first payout made in January.

AbbVie's stock buyback program is effective immediately, and authorizes the company to repurchase up to $1.5 billion of its shares for what it termed "a multi-year period." The program has no time limit.

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Report this Comment On February 16, 2013, at 8:58 PM, PEStudent wrote:

Abbvie got the lion's share of the old Abbott dividend. Last year Abbott's dividend was $0.51 per quarter. Shareholder's money was divided 50% to Abbott and 50% to the new Abbvie spinoff with 1 roughly-equal valued share of Abbvie for each share of Abbott owned. But Abbvie now has a $0.40 dividend compared to the new Abbott's $0.14. That's $0.54 compared to last year's $0.51 and Abbott is claiming it's raised its dividend for the 40th consecutive year, which is stretching it a little since roughly 80% of the dividend went to a completely separate new company!