Tuesday, February 1st the Board of Directors of United Parcel Service, Inc. (UPS) announced a quarterly dividend increase of from $ 1.02 to $ 1.52 per share that’s payable March 10, 2022 to holders of record February 22, 2022. This represents a 49% increase over the last quarterly dividend.
With current price $ 232.11 (yesterday's close), this raise brings their dividend yield to 2.62%.
UPS is a Dividend Contenders with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.0, 3.9, 5.5 and 7.0 (Dividend Champions.xls)
Since I own 65 shares of UPS, this will increase my portfolio's projected annual net dividend income by $ 96.85.
The size of this increase was a huge surprise, I was expecting an increase of around 10%, although I am happy to accept this announcement!
This is the 3rd dividend increase I've received from UPS since initiating a position in May 2019. During this period, the dividend has grown magnificently from $0.96 to $1.52 or 58.3%
This increase raises my YOC to 6.04%.
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 UPS
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The raise from UPS was absolutely amazing. Even though they had said they were targeting a 50% payout ratio I just didn't think they'd jump right up there in one fell swoop. Certainly was nice to see.
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