ABBOTT PARK, Ill., Dec. 10, 2021 /PRNewswire/ -- Abbott (NYSE: ABT) today announced that its board of directors has increased the company's quarterly common dividend, marking the company's 50th consecutive year of dividend growth.
Abbott's quarterly common dividend has been increased to 47 cents per share, a 4.4% increase that follows a 25% increase to the company's quarterly dividend in 2021. It will be the 392nd consecutive quarterly dividend to be paid by Abbott since 1924. The cash dividend is payable Feb. 15, 2022, to shareholders of record at the close of business on Jan. 14, 2022.
Abbott is a member of the S&P 500 Dividend Aristocrats Index, which tracks companies that have increased dividends annually for at least 25 consecutive years.
"Fifty years of dividend growth reflects the consistently strong performance of our diversified business model," said Robert B. Ford, president and chief executive officer, Abbott. "It exemplifies our longstanding commitment to delivering sustainable growth that fuels innovation as well as shareholder returns."
Abbott's board also has authorized the repurchase of up to $5 billion of the corporation's common shares. This new authorization is in addition to the unused portion of the previous program authorized by Abbott's board in October 2019. The purchases may be made from time to time as market conditions warrant and subject to regulatory considerations.
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines. Our 109,000 colleagues serve people in more than 160 countries.
— Private Securities Litigation Reform Act of 1995 —
A Caution Concerning Forward-Looking Statements
Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A, "Risk Factors" in our Annual Report on Form 10-K for the year ended Dec. 31, 2020, and are incorporated herein by reference. Abbott undertakes no obligation to release publicly any revisions to forward-looking statements as a result of subsequent events or developments, except as required by law.