Tuesday, July 13, 2021

Dividend Increase #54 of 2021 - Duke Energy Corporation (DUK)


Monday, July 12th the Board of Directors of Duke Energy Corporation (DUK) announced a quarterly dividend increase of from $ 0.965 to $ 0.985 per share that’s payable September 16, 2021 to holders of record August 13, 2021. This represents a 2.07% increase over the last quarterly dividend.


Duke Energy has paid a cash dividend on its common stock for 95 consecutive years.


With current price $ 101.53 (yesterday's close), this raise brings their dividend yield to 3.88%.


DUK is a Dividend Contenders with a 16 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.0, 3.1, 3.3 and 2.8 (Dividend Champions.xls)



Since I own 35 shares of DUK, this will increase my portfolio's projected annual net dividend income by $ 2.09.


The magnitude of the increase was significantly lower than my expectations, I expected an increase of about 4-5 percent. However, an increase is always an increase and I would rather accept it than a reduction.


This is the fourth dividend increase I've received from Duke Energy Corporation since initiating a position in January 2018. (More here) During this period, the quarterly dividend has risen poorly from $ 0.89 to $ 0.985, or 10.7 percent.


This increase raises my YOC to 4.89%.



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 DUK


Thanks for stopping by!


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