Dividend Aristocrat Abbott Laboratories (ABT) will raise its quarterly dividend for the 42nd consecutive year. Abbott increases the quarterly dividend by 57.1% from $0.14 to $0.22, adjusted for the recent AbbVie (ABBV) spin-off.

Following the AbbVie spin-off earlier this year Abbott had a relative low dividend yield with just $0.14 from the $0.54 original dividend paid before spinning off AbbVie, that recently initated a $0.40 per share quarterly dividend.

The dividend yield for Abbott, that has now raised its dividend for 42 consecutive years, jumps from 1.7% to 2.6% after the dividend increase.

Abbott Laboratories is a global healthcare company with a portfolio of science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals. The company's products include pharmaceuticals, nutritional, diagnostics, and vascular products. The Pharmaceutical Products segment includes a range of branded generic pharmaceuticals. Abbott’s Nutritional Products include a range of pediatric and adult nutritional products. Abbott has paid consecutive quarterly dividends since 1924.