AbbVie (ticker: ABBV), Rockwell Automation (ROK) and Estee Lauder (EL), all of these announced dividend hikes this week.
The largest of these three companies, AbbVie, which is a pharmaceutical firm whose market cap is almost about $122 billion has declared a dividend increase of 11.5%. It will now pay out $1.07 a quarter which is up from 96 cents.
AbbVie’s profits and sales have been powered by the blockbuster drug Humira. It treats rheumatoid arthritis and various other conditions. But over the past year AbbVie stock has returned -4.7% .
One concern that is weighing on the stock is more competition for Humira from the biosimilar products. That said, the company’s CEO, Richard Gonzalez, told analysts on Friday that they are very confident in their ability to deliver double-digit earnings growth again in 2o19 despite direct biosimilar competition which is impacting more than $6 billion of the international Humira business.
It should be noted that AbbVie stock was recently yielding 4.7%.
Rockwell Automation had also declared a quarterly dividend of 97 cents a share, 5% from 92 cents. The company makes software and other equipment used to automate manufacturing operations. Rockwell Automation stock yields 2.1%, and over the past year it has returned -11% .
Estee Lauder has also announced that it will boost its quarterly dividend to 43 cents a share from the current 38 cents. That is a 13% increase. In the past year, shares of the cosmetics firm have returned 21%, and were recently yielding 1.2%.