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Abbott announces 401st consecutive dividend, price set at 55 cents per share

Published 2024-02-16, 10:54 a/m
Updated 2024-02-16, 10:54 a/m
© Reuters.

ABBOTT PARK, Ill. - Abbott (NYSE:ABT) has declared a quarterly common dividend of 55 cents per share, continuing its long-standing tradition of rewarding shareholders. This recent announcement marks the company's 401st consecutive quarterly dividend since 1924.

The dividend is scheduled for distribution on May 15, 2024, to shareholders who are on record as of April 15, 2024. Abbott's consistency in dividend payments is noteworthy, as the company has not only maintained but also increased its dividend payout for 52 consecutive years. This achievement places Abbott among the esteemed ranks of the S&P 500 Dividend Aristocrats Index, which includes companies with a history of raising dividends annually for at least 25 years.

Abbott, a global healthcare company, is known for its diverse portfolio that spans various segments of the healthcare industry, including diagnostics, medical devices, nutritionals, and branded generic medicines. With a workforce of 114,000, Abbott has a presence in over 160 countries, aiming to help people lead healthier lives at every stage.

This dividend declaration is a testament to Abbott's financial health and commitment to providing value to its investors. The company's inclusion in the Dividend Aristocrats Index underscores its reliability and performance in the eyes of the investment community.

The information for this report is based on a press release statement from Abbott.

InvestingPro Insights

As Abbott (NYSE:ABT) continues its legacy of delivering shareholder value through dividends, recent data from InvestingPro provides a deeper insight into the company's financial metrics and market performance. With a market capitalization of $199.58 billion and a robust gross profit margin of 55.42% over the last twelve months as of Q4 2023, Abbott's financial stability is evident.

An impressive track record of dividend consistency is highlighted by the company's ability to maintain dividend payments for 54 consecutive years, a testament to its financial resilience and strategic management. This is further substantiated by the recent dividend announcement, reinforcing Abbott's position as a reliable investment for those seeking regular income.

InvestingPro Tips suggest that Abbott has raised its dividend for 10 consecutive years, showcasing a commitment to returning value to shareholders. Additionally, the company is recognized as a prominent player in the Healthcare Equipment & Supplies industry, which may provide a degree of investment security given the essential nature of healthcare products and services.

For investors looking for more in-depth analysis and additional InvestingPro Tips, visit https://www.investing.com/pro/ABT to explore further. There are 13 more tips available that could provide valuable insights into Abbott’s market position and performance. Use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching your investment strategy with expert data and analysis.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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