NORTH CHICAGO, Ill., Feb. 15, 2018 /PRNewswire/ -- The board of directors of AbbVie (NYSE: ABBV) increased the company's quarterly cash dividend by 35 percent from $0.71 per share to $0.96 per share and authorized a new $10 billion stock repurchase program.
The cash dividend is payable May 15, 2018 to stockholders of record at the close of business on April 13, 2018.
Since the company's inception in 2013, AbbVie has increased its dividend by 140 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.
The stock repurchase program supersedes any existing repurchase authorizations. Purchases may be made from time to time in management's discretion. The stock repurchase authorization permits shares to be repurchased in open market or private transactions, has no time limit and may be discontinued at any time.
AbbVie is a global, research-driven biopharmaceutical company committed to developing innovative advanced therapies for some of the world's most complex and critical conditions. The company's mission is to use its expertise, dedicated people and unique approach to innovation to markedly improve treatments across four primary therapeutic areas: immunology, oncology, virology and neuroscience. In more than 75 countries, AbbVie employees are working every day to advance health solutions for people around the world. For more information about AbbVie, please visit us at www.abbvie.com. Follow @abbvie on Twitter, Facebook or LinkedIn.