Dividend Increase - General Dynamics Corporation (GD)

 

 

Wednesday, March 2nd the Board of Directors of General Dynamics Corporation (GD) announced a quarterly dividend increase of from $ 1.19 to $ 1.26 per share that’s payable May 6, 2022 to holders of record April 8, 2022. This represents a 5.88% increase over the last quarter dividend and this is the 25th consecutive annual dividend increase authorized by the General Dynamics board.

 

With current price $ 236.81 (yesterday's close), this raise brings their dividend yield to 2.13%.

 

General Dynamics is a Dividend Champions with a 25 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 8.1, 8.8, 9.5 and 9.8 (Dividend Champions.xls)

 

 

Since I own 40 shares of GD, this will increase my portfolio's projected annual net dividend income by $ 8.34.

 

I was expecting an increase of about 8%, so the announcement was a bit of a disappointment.

 

This is the third dividend increase I've received from General Dynamics since initiating a position in January 2020. During that period, the quarterly dividend has gone up quite nicely from $ 1.02 to $ 1.26, or 23.5 percent.

 

This increase raises my YOC to 3.74%.

 

 

Summary of 2022 Dividend Increases / Cuts

 

 

Click here to see my portfolio holdings.

 

You can follow the development of my dividends here.

 

Full Disclosure: Long GD

 

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