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AbbVie Inc (NYSE:ABBV) Reports Dividend Jump Of 11%

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AbbVie Inc (NYSE:ABBV) reported that its board announced a jump in the firm’s quarterly cash payout to $0.71 per share from $0.64 per share starting with the dividend to be paid on February 15, 2018 as of record date January 12, 2018.

This exhibits a jump of around 11%, continuing company’s commitment to returning cash to stockholders through a growing dividend. Since the firm’s inception in 2013, it has increased its payout by over 77%. AbbVie is included in the S&P Dividend Aristocrats Index, which tracks firms that have yearly increased their payout for at least 25 successive years.

The highlights

Commenting on the performance of company in the third quarter closed September 30, 2017, Richard A. Gonzalez, the CEO and Chairman of AbbVie, reported that they are delighted with the notable progress they have made with their strategic priorities, including the settlement of their HUMIRA patent disagreements with Amgen, and the major advancement with late-stage pipeline of unique products.

This quarter they achieved several milestones, including positive data from numerous pivotal trials, regulatory nods for MAVYRET and the U.S. regulatory filing and priority review status for elagolix. Gonzalez added that they remain confident in their ability to continue to successfully deploy on their long-term plan and fuel sustainable industry-leading show.

Worldwide net revenues came at $6.995 billion in the third quarter, a jump of 8.8% YoY on a GAAP basis. Adjusted net revenues on an operational basis jumped 8.8%, excluding a 0.7% favorable impact from foreign exchange. International HUMIRA sales surged 15.8% on a reported basis, or 14.8% operationally, discounting a 1% favorable impact from foreign exchange. In the United States, HUMIRA sales surged 19.1% in the quarter.

Globally, HUMIRA sales surged 6.8%, discounting a favorable impact of 2.9% from foreign exchange. AbbVie reported that global IMBRUVICA net revenues came at $688 million in the third quarter, with global profit sharing of $114 million and U.S. sales of $574 million for the quarter, registering growth of 37.3%.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of journaltranscript.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure

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