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AbbVie raises quarterly cash dividend, gets $10B share repurchase program

AbbVie Inc.'s board increased the company's quarterly cash dividend by 35% to 96 cents per share from 71 cents per share and authorized a new $10 billion stock repurchase program.

The cash dividend is payable May 15 to stockholders of record as of April 13.

Illinois-based AbbVie said the stock repurchase program supersedes any existing repurchase authorizations.