Abbott to raise dividends for 37th year

Abbott will raise its quarterly common dividend for the 37th consecutive year.

The company’s board of directors stated it will increase each share by 11 per cent, taking their value up to 40 cents (27 pence).

Since 1924, the global health care company, which develops pharmaceutical and medical products, has paid out 341 successive quarterly dividends.

Those who owned shares at the close of business on April 15th 2009 will receive the bonus on May 15th 2009.

Abbott has also been highlighted as one of the top five dividend stocks by a financial media outlet, the firm reported.

The company of around 69,000 staff is a top performer the S&P 500 Dividend Aristocrats Index, which tracks the performance of businesses that have increased their share rewards annually for at leas 25 years.

Founded in 1888 by Dr Wallace C Abbott, it markets its products in more that 1430 countries worldwide.

Every year since 1984, it has been named one of the most admired companies by Fortune magazine.