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Abbott Makes It 359 in a Row

Medical device manufacturer Abbott (NYSE: ABT  ) announced today its third-quarter dividend of $0.14 per share, the same rate it's paid for the past three quarters. Before that, the payout had been $0.51 per share, but on January 1 Abbott spun off to investors its research-based pharmaceuticals business into a new company, AbbVie (NYSE: ABBV  ) .

The board of directors said the quarterly dividend is payable on November 15 to holders of record at the close of business on October 15. The payout marks the 359th consecutive quarterly dividend to be paid by Abbott since 1924, and the medical device maker has increased its dividend payout for 41 consecutive years.

The regular dividend payment equates to a $0.56-per-share annual dividend, yielding 1.6% based on the closing price today of Abbott's stock.

ABT Dividend Chart

ABT Dividend data by YCharts.  Chart reflects the effect on the dividend of the spin-off to investors of AbbVie.

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  • Report this Comment On September 13, 2013, at 4:23 PM, PEStudent wrote:

    "and the medical device maker has increased its dividend payout for 41 consecutive years."

    While this may seem like a stretch, the portion of the dividend passed on to Abbvie (3.6%), plus the portion of the dividend retained by Abbott are greater than the single dividend of Abbott in the past.

    Those of us holding Abbott stock (me since 1993) got one share of Abbvie for every one of Abbott, so the comparison is easy to make.

    The hope, of course, is that Abbvie keeps it's dividend high while Abbott -which absorbed much of the debt of the original company-- slow raises its dividend toward 3%.

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