AmerisourceBergen Corp (ABC) will raise its quarterly dividend by 5.3 percent to $0.40 per share in the fourth quarter of 2018. This marks the company's 14th consecutive year of annual dividend increases.

The increased dividend of $0.40 per common share will be payable December 3, 2018, to stockholders of record at the close of business on November 19, 2018.

The new annualized dividend of $1.60 per share yields 1.8% at a stock price of $88.86 for ABC.

“Our Board of Directors authorized a new $1.0 billion share repurchase program and a 5% increase in our dividend as part of our ongoing commitment to return capital to shareholders,” said Steven H. Collis, Chairman, President and Chief Executive Officer of AmerisourceBergen.

AmerisourceBergen is a pharmaceutical sourcing and distribution services company, helping both healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. With services ranging from drug distribution and niche premium logistics to reimbursement and pharmaceutical consulting services, AmerisourceBergen delivers programs and solutions across the pharmaceutical supply channel in human and animal health.