The board of directors of healthcare company Abbott (NYSE:ABT) approved a quarterly dividend of USD0.28 per share of the company's common stock, it declared on Friday.

This new payment marks a growth from the prior dividend of USD0.265 per share and marks the 376th consecutive quarterly dividend to be paid by Abbott since 1924.

Shareholders of record at the close of business as of 12 January 2018 will receive the cash dividend on 15 February 2018.

With a portfolio of leading, science-based offerings in diagnostics, medical devices, nutritionals and branded generic pharmaceuticals, Abbott said it is devoted to improving life through the development of products and technologies that span the breadth of healthcare.