AmerisourceBergen Corp (ABC) will raise its quarterly dividend by 5.0 percent to $0.42 per share in 2020.

This marks the company's 16th consecutive year of annual dividend increases by the healthcare services company. Last year ABC did not announce a dividend increase.

The increased dividend of $0.42 per common share will be payable March 2, 2020, to stockholders of record at the close of business on February 14, 2020. The new annualized dividend of $1.68 per share yields 2.0% at a stock price of $85.56 for ABC.

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.