Abbott Makes It 359 in a Row
Sep 12th 2013 10:22PM
Updated Sep 23rd 2013 3:52PM
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.
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