Wednesday, February 10, 2021

Dividend Increase #17 of 2021 - Prudential Financial, Inc. (PRU)


Thursday, February 4th the Board of Directors of Prudential Financial, Inc. (PRU) announced a quarterly dividend increase of from $ 1.10 to $ 1.15 per share that’s payable March 11, 2021 to holders of record February 16, 2021. This represents a 4.55% increase over the last quarterly dividend.


In addition, the Company’s Board of Directors has authorized the repurchase of up to $1.5 billion of its outstanding Common Stock during the period from January 1, 2021 through December 31, 2021.


With current price $ 81.43 (yesterday's close), this raise brings their dividend yield to 5.65%.


PRU is a Dividend Contenders with a 12 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.0, 13.6, 12.5 and 14.4 (Dividend Champions.xls)



Since I own 85 shares of Prudential Financial, this will increase my portfolio's projected annual net dividend income by $ 12.67.


The increase was slightly below my expectation, despite the unusual time, I was expecting an increase of about 6%, but of course this is also acceptable.


This is the first dividend increase I've received from PRU since initiating a position in August 2020. (More here)


This increase raises my YOC to 6.49%.



Summary of 2021 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long PRU


Thanks for stopping by!


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