Dividend Increase - Prudential Financial, Inc. (PRU)

 

Thursday, February 3rd the Board of Directors of Prudential Financial, Inc. (PRU) announced a quarterly dividend increase of from $ 1.15 to $ 1.20 per share that’s payable March 11, 2022 to holders of record February 15, 2022. This represents a 4.35% increase over the last quarterly dividend.

 

With current price $ 119.86 (Friday's close), this raise brings their dividend yield to 4.00%.

 

Prudential Financial is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.5, 8.5, 10.4 and 12.2 (Dividend Champions.xls)

 

 

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

 

I was a little disappointed with the size of the increase, I was expecting around 6%, but I am happy to accept this as well.

 

This is the second dividend increase I've received from Air Products since initiating a position in August 2020. During this period, the dividend has risen marginally from $1.10 to $1.20 or 9.1%.

 

This increase raises my YOC to 6.77%.

 

 

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

 

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