Abbott Laboratories (NYSE:), a company with a long-standing history of providing dividends to its shareholders, has announced an increase in its quarterly dividend.

The healthcare giant has been consistent in its dividend payments for more than a century, demonstrating resilience through various market conditions and significant historical events.

In a continuation of this tradition, Abbott has declared a 7.3% rise in its dividend, which will now stand at 59 cents per quarter.

This increase is a part of the company’s ongoing commitment to dividend growth, which has seen the quarterly dividend rise by over 60% since 2020. Over the past ten years, the dividend has more than doubled.

The announcement signifies the company’s 53rd consecutive year of dividend growth. Furthermore, it marks the 404th consecutive quarterly dividend paid by Abbott.

The company’s consistent performance has secured its place in the S&P 500’s Dividend Aristocrats Index, which includes companies that have raised their dividend payout for at least 25 consecutive years.

Additionally, Abbott is recognized as one of the “Dividend Kings,” a select group of companies that have increased their dividends for at least 50 years in a row.

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