Abbott Labs Increases Dividend For 37th Consecutive Year

Abbott Laboratories (ABT: 55.26 -0.56%) announced they are increasing their quarterly dividend by 11% to $.40 per share.

 

The dividend increase marks the 37th consecutive year that Abbott has increased its dividend payout and the 341st consecutive quarterly dividend to be paid by Abbott since 1924.

 

The current dividend yield now stands at 3.4%.

 

Abbot Labs has not been immune to the market sell-off this year, with shares falling 12% since the beginning of 2009. However, last year saw the stock fall only 5%, compared to the Dow Jones index’s 34% drop.

 

The company is one of few that continues to grow despite the difficult economy. Earnings are expected to grow 11% in 2009 and another 12% in 2010.

 

The dividend will be payable on May 15, 2009 to shareholders of record as of April 15, 2009.

 

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