Thursday, May 6, 2021

Dividend Increase #44 of 2021 - UGI Corporation (UGI)



Wednesday, May 5th the Board of Directors of UGI Corporation (UGI) announced a quarterly dividend increase of from $ 0.33 to $ 0.345 per share that’s payable July 1, 2021 to holders of record June 15, 2021. This represents a 4.55% increase over the last quarterly dividend.


“We are pleased to mark the 34th consecutive year of increasing UGI’s dividend,” said John L. Walsh, President and Chief Executive Officer of UGI. “UGI has a strong legacy of growing earnings and cash flow throughout different economic cycles and conditions, and consistently creating value for its shareholders. This consistency demonstrates the resiliency of our businesses and the confidence we have in our future outlook. Over the past five years, UGI’s dividend has a compound annual growth rate of 7.8%, well above our 4% commitment to shareholders.”


UGI has paid common dividends for 137 consecutive years and raised its dividend in each of the last 34 years.


With current price $ 44.44 (yesterday's close), this raise brings their dividend yield to 3.11%.


UGI Corporation is a Dividend Champions with a 34 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 14.4, 10.3, 8.1 and 8.1 (Dividend Champions.xls)



Since I own 80 shares of UGI, this will increase my portfolio's projected annual net dividend income by $ 3.58.


I was expecting an increase of about eight percent, so the magnitude of the increase was a bit disappointing for me.


This is the first dividend increase I've received from UGI Corporation since initiating a position in September 2020.


This increase raises my YOC to 4.11%.



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 UGI


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