Yesterday, March 4 the Board of Directors of General Dynamics Corporation announced a quarterly dividend increase of from $ 1.02 to $ 1.10 per share that’s payable May 8, 2020 to holders of record April 10, 2020. This is the 23rd consecutive annual dividend increase authorized by the General Dynamics board, and represents a 7.84% increase over last year’s dividend.
The board also provided management with the authority to
repurchase an additional 10 million shares of the company’s issued and
outstanding common stock on the open market.
With current price $ 163.44 (today's open), this raise
brings their dividend yield to 2.69%.
GD is a Dividend Champions with a 28 year streak of
dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 9.9, 10.3,
10.5 and 10.4. (Dividend
Champions.xls)
Since I own 10 shares of GD, this will increase my
portfolio's projected annual net dividend income by $ 2.38.
This increase raises my YOC to 2.44%.
Summary of 2020 Dividend Increases / Cuts
Hawk -
ReplyDeleteThanks for sharing, such an awesome dividend increase during these times.
-Lanny
Nice to see the dividend increase,just bought them early in the year.
ReplyDelete23rd or 28th?
ReplyDeleteHi, according board of directors 23rd, according Dividend Champion sheet 28th :)
DeleteThanks for visiting!
DH