Why Wall Street Can't Get Enough of This Dividend King
AbbVie has an attractive 2.7% yield, a solid pharmaceutical business, and is clearly focused on its dividend.
Overview
AbbVie (NYSE: ABBV) was spun off from Abbott (NYSE: ABT) in 2013. That's an important fact to keep in mind when you look at AbbVie's Dividend King status. Technically, it hasn't increased its dividend annually for 50 years because it hasn't existed as a stand-alone company for 50 years. But don't let that fact dissuade you from looking at this much-loved dividend stock. Here's what you need to know.
While AbbVie inherited its status as a Dividend King from its former parent, Abbott, it has increased its dividend every year since the spin-off. It is clear that AbbVie understands how important dividends are to its shareholders.
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Originally published at www.fool.com.