AmerisourceBergen Corporation (ABC) will raise its quarterly dividend by another 4.8 percent to 44 cents per share in 2020. Earlier this year the healthcare company already announced a 5.0 percent hike to $0.42 per share. The year 2020 marks the company's 16th consecutive year of annual dividend increases. In 2019 ABC did not announce a dividend increase.

The increased dividend of $0.42 per common share is payable November 30, 2020, to stockholders of record at the close of business on November 16, 2020. The new annualized dividend of $1.76 per share yields 1.7% at a stock price of $105.42 for the healthcare services provider.

If this new dividend hike is included AmerisourceBergen Corporation will pay an estimated $359 million in dividends to shareholders annually.

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.