Friday, December 24, 2021

Dividend Increase #92 of 2021 - Bristol-Myers Squibb Company (BMY)



Monday, December 13th the Board of Directors of Bristol-Myers Squibb Company (BMY) announced a quarterly dividend increase of from $ 0.49 to $ 0.54 per share that’s payable February 1, 2022 to holders of record January 7, 2022. This represents a 10.20% increase over the last quarterly dividend.


“The company’s financial position is strong, and we remain committed to a consistent, balanced capital allocation strategy,” said Giovanni Caforio, board chair and chief executive officer, Bristol Myers Squibb. “With significant free cash flow of $45 billion to $50 billion expected between 2021 and 2023, investment in business development continues to be a key priority for the company in driving innovation and sustained growth as we return capital to shareholders through the dividend increase and expanded share repurchase authorization. We remain committed to maintaining a strong investment grade credit rating and reducing our debt.”


With current price $ 62.05 (yesterday's close), this raise brings their dividend yield to 3.48%.


Bristol-Myers Squibb is a Dividend Contenders with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 9.8, 4.9, 4.0 and 3.5 (Dividend Champions.xls)



Since I own 80 shares of BMY, this will increase my portfolio's projected annual net dividend income by $ 11.92.


I was pleasantly surprised by the size of the increase, twice as much as I had expected.


This is the first dividend increase I've received from Bristol-Myers Squibb since initiating a position in December 2020.


This increase raises my YOC to 3.55%.



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 BMY


Thanks for stopping by, Merry Christmas Everyone!


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