February 15, 2018 / 6:01 PM / 5 days ago

AbbVie to buy back $10 billion of shares, raises dividend

Feb 15 (Reuters) - AbbVie Inc on Thursday said its board had approved a $10 billion stock repurchase program, and the drugmaker also increased its quarterly dividend, as it reaped benefits from changes to the U.S. tax code.

The company said it was raising its quarterly dividend to 96 cents per share from 71 cents.

The company said last month that it hoped to accelerate dividend growth and share buybacks, and had raised its 2018 earnings forecast. (Reporting by Manas Mishra in Bengaluru; Editing by Maju Samuel)

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