ABBV AbbVie Inc

By Dean Seal

AbbVie Inc. said Friday that it has raised its quarterly dividend by 5%.

The biopharmaceutical company said its board of directors increased the cash dividend to $1.48 a share from $1.41.

AbbVie said the raise reflected its commitment to return cash to shareholders, noting that it has nearly quadrupled its quarterly dividends since the company launched in 2013.

The new payout, equal to $5.92 a year, represents an annual yield of about 3.9% based on Thursday's closing price of $153.50.

The company's last dividend raise came a year ago, when it lifted per-share dividends by 8.5% to $1.41.

Write to Dean Seal at dean.seal@wsj.com

(END) Dow Jones Newswires

October 28, 2022 08:19 ET (12:19 GMT)

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