Abbott Makes It 359 in a Row

Medical device manufacturer Abbott 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 .

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.

The article Abbott Makes It 359 in a Row originally appeared on Fool.com.

Fool contributor Rich Duprey has no position in any stocks mentioned, and neither does The Motley Fool. 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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