Abbott / AbbVie dividends
Excerpt:
The board of directors of Abbott today declared its 356th consecutive quarterly cash dividend. The quarterly dividend is $0.14 per share, payable Feb. 15, 2013, to shareholders of record on Jan. 15, 2013. The management of AbbVie, Abbott's research-based pharmaceuticals business, intends to recommend a cash dividend, subject to AbbVie board approval, of $0.40 per share, which together with Abbott's dividend will equal a cash dividend of $0.54 per share, an increase of nearly 6 percent over Abbott's quarterly cash dividend declared in September 2012.
Abbott's annualized cash dividend of $0.56 per share, combined with AbbVie's annualized cash dividend of $1.60 per share equals a total annualized cash dividend of $2.16 per share, compared to the annualized cash dividend of Abbott, prior to separation, of $2.04 per share. Future quarterly dividends, including the expected AbbVie dividend in February 2013, are subject to approval by each company's board of directors.Comment: Split to occur in January
More on the split: Abbott Board of Directors Approves Separation of AbbVie and Declares Special Dividend Distribution of AbbVie Stock
ReplyDeleteAbbott announced today that its board of directors has approved the separation of its research-based pharmaceuticals business, which will be known as AbbVie Inc., and declared a special dividend distribution of all of the outstanding shares of AbbVie common stock.
For every 1 share of Abbott common shares held, Abbott shareholders will receive 1 share of AbbVie common stock. No fractional shares of AbbVie will be issued. Shareholders will receive cash in lieu of fractional shares. The special dividend distribution is expected to be paid on Jan. 1, 2013, to Abbott shareholders of record as of the close of business on Dec. 12, 2012.
The distribution of AbbVie common stock will complete the separation of the research-based pharmaceuticals business from Abbott. After the distribution, AbbVie will be an independent, publicly-traded company and Abbott will retain no ownership interest. AbbVie common stock is expected to begin trading on Jan. 2, 2013, on the New York Stock Exchange (NYSE) under the ticker symbol ABBV. Abbott will continue to trade on the NYSE under the ticker symbol ABT.
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