Wednesday, March 3rd the Board of Directors of General Dynamics Corporation (GD) announced a quarterly dividend increase of from $ 1.10 to $ 1.19 per share that’s payable May 7, 2021 to holders of record April 9, 2021. This represents an 8.18% increase over the last quarterly dividend and this is the 24th consecutive annual dividend increase authorized by the General Dynamics board.
With current price $ 169.57 (today's open), this raise brings their dividend yield to 2.81%.
General Dynamics Corporation is a Dividend Champions with a 29 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 8.3, 9.6, 9.9 and 10.2 (Dividend Champions.xls)
Since I own 40 shares of General Dynamics, this will increase my portfolio's projected annual net dividend income by $ 10.73.
This increase was in line with my expectations and I will be happy to take it.
This is the second dividend increase I've received from General Dynamics since initiating a position in January 2020. During that period, the quarterly dividend has grown sufficiently from $ 1.02 to $ 1.19, or 16.7 percent.
This increase raises my YOC to 3.53%.
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 GD
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