Dividend Coverage: This Healthcare Company has Paid Consecutive Quarterly Divided Since 1924; Will Trade Ex-Dividend on October 12, 2017
ACCESS Newswire
LONDON, UK / ACCESSWIRE / October 11, 2017 / Pro-Trader Daily takes a closer look at Abbott Laboratories (NYSE: ABT) as the Company's stock will begin trading ex-dividend on October 12, 2017. In order to capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on October 11, 2017. Are you looking for research on dividend stocks, if so register with us now for your free membership at:
On September 14, 2017, Abbott Labs' Board of Directors declared a quarterly common dividend of $0.265 per share. The cash dividend is payable November 15, 2017, to shareholders of record at the close of business on October 13, 2017.
Abbott Labs' indicated dividend represents a yield of 1.93%, which is more than double to the average dividend yield of 0.64% for the Healthcare sector. This marks the 375th consecutive quarterly dividend to be paid by Abbott Labs since 1924. The Company has increased its dividend payout for 45 consecutive years and 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.
Dividend Insights
Abbott Laboratories has a dividend payout ratio of 42.6%, which means that the Company distributes approximately $0.43 for every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.
According to analysts' estimates, Abbott Labs is forecasted to report earnings of $2.79 for the next year, which is substantially above the Company's annualized dividend of $1.06 per share.
As of June 30, 2017, Abbott Labs' cash and cash equivalents totaled $9.68 billion compared to cash of $18.62 billion as on December 31, 2016. For the six months ended June 30, 2017, the Company's cash from operating activities totaled $1.93 billion compared to $816 million for the year-ago same period. The Company's strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.
Recent Development for Abbott Laboratories
On October 04, 2017, Abbott announced that it has successfully completed its previously announced tender offer to purchase for cash all outstanding shares of Series B Convertible Perpetual Preferred Stock of Alere Inc. at a price of $402.00 per share of Preferred Stock, plus accrued but unpaid dividends to, but not including, the settlement date of the tender offer, net to the seller thereof in cash, without interest thereon and subject to any withholding of taxes required by applicable law. The Offer was made in connection with Abbott's previously announced agreement to acquire Alere, which closed on October 03, 2017.
AboutAbbott Laboratories
Abbott Labs is a global healthcare Company devoted to improving life through the development of products and technologies that span the breadth of healthcare. With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals, and branded generic pharmaceuticals, Abbott Labs serves people in more than 150 countries and employs approximately 94,000 people.
Stock Performance
On Tuesday, October 10, 2017, the stock closed the trading session at $55.40, climbing 1.35% from its previous closing price of $54.66. A total volume of 4.94 million shares have exchanged hands. Abbott Labs' stock price surged 14.39% in the last three months, 27.12% in the past six months, and 27.36% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 44.23%. The stock is trading at a PE ratio of 85.10 and has a dividend yield of 1.91%. At Tuesday's closing price, the stock's net capitalization stands at $96.43 billion.
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