AbbVie 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.

The article AbbVie Declares Quarterly Dividend, Launches Stock Buybacks originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in AbbVie. The Motley Fool has no position in AbbVie. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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