Is AbbVie a Great Dividend Stock?

Many investors consider dividend stocks an important part of any well-rounded portfolio. And while there is no shortage of such stocks on the market, they aren't all created equal. After all, most companies aren't legally obligated to reward shareholders by way of dividends, and given that we are currently in a recession, many have already slashed or suspended their dividend payments. Fortunately, there are still some dividend stocks worth buying, and AbbVie (NYSE: ABBV) is one of them. Here's why the pharma giant is a great dividend stock.

AbbVie made its debut on the stock market in 2013 when it split from its former parent company, Abbott Laboratories. When we include the time AbbVie spent as a division of Abbott, the company has raised its dividends for 47 consecutive years, making the drugmaker a Dividend Aristocrat. This select group refers to companies in the S&P 500 that have raised their dividend payouts for at least 25 consecutive years. 

Image source: Getty Images.

Continue reading

Source Fool.com