The board of directors of Abbott (NYSE: ABT) today increased the company's quarterly common dividend from 48 cents per share to 51 cents per share.
This marks the 40th consecutive year that Abbott has increased its dividend payout and the 353rd consecutive quarterly dividend to be paid by Abbott since 1924. The cash dividend is payable May 15, 2012, to shareholders of record at the close of business on April 13, 2012.
Only 1 percent of companies listed on the S&P 500 Index have achieved this level of consecutive annual increases and payments. Beginning in 1973, Abbott has increased its quarterly dividend, adjusting for stock splits, from less than a penny per share to 51 cents per share today.
Additionally, Abbott is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have annually increased their dividends for 25 consecutive years.