AbbVie (ABBV) will raise its quarterly dividend to $0.64 per share.

Following the spin-off by Abbott Laboratories (ABT) in 2013, the biopharmaceutical company has raised its dividend every year. Theoretically today's dividend hike marks the 45th year of dividend increases by AbbVie.

The cash dividend is payable February 15, 2017 to stockholders of record at the close of business on January 13, 2017.

Since the company's inception in 2013, AbbVie has increased its dividend by 60 percent. AbbVie is a member of the S&P Dividend Aristocrats Index, which tracks companies that have annually increased their dividend for at least 25 consecutive years.

The new dividend yield for AbbVie is 4.5% based on today's $56.38 stock price.

AbbVie (ABBV) will pay its first quarterly dividend following the separation from Abbott Laboratories (ABT). The quarterly dividend will be $0.40 per share.

AbbVie Inc. is a research-based biopharmaceutical company. The company has business in four primary therapeutic areas: immunology, oncology, virology and neuroscience. AbbVie’s products are focused on treating conditions such as chronic autoimmune diseases in rheumatology, gastroenterology and dermatology; oncology, including blood cancers; virology, including hepatitis C virus (HCV) and human immunodeficiency virus (HIV); neurological disorders, such as Parkinson’s disease and multiple sclerosis; metabolic diseases, including thyroid disease and complications associated with cystic fibrosis; as well as other serious health conditions. Abbvie's Humira medicine (for treatment of psoriasis and rheumatoid arthritis) is the world's best selling prescription medicine.  AbbVie became an independent company as a result of the distribution by Abbott Laboratories of 100% of the outstanding common stock of AbbVie to Abbott’s shareholders.