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
Thanks for stopping by!
No comments:
Post a Comment