Thursday, March 3, 2022

Dividend Increase - The Home Depot, Inc. (HD)



Tuesday, February 22nd the Board of Directors of The Home Depot, Inc. (HD) announced a quarterly dividend increase of from $ 1.65 to $ 1.90 per share that’s payable March 24, 2022 to holders of record March 10, 2022. This represents a 15.15% increase over the last quarter dividend. This is the 140th consecutive quarter the Company has paid a cash dividend.


With current price $ 329.19 (today's open), this raise brings their dividend yield to 2.31%.


Home Depot is a Dividend Contenders with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.0, 17.0, 19.0 and 20.3 (Dividend Champions.xls)



Since I own 15 shares of HD, this will increase my portfolio's projected annual net dividend income by $ 11.18.


The increase was much higher than I expected and I welcome this announcement.


This is the third dividend increase I've received from Home Depot since initiating a position in March 2019. During this period, the quarterly dividend has increased nicely from $ 1.36 to $ 1.90 or 39.7 percent.


This increase raises my YOC to 4.12%.



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 HD


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