Thursday, May 5, 2022

Dividend Increase - UGI Corporation (UGI)



Yesterday, May 4th the Board of Directors of UGI Corporation (UGI) announced a quarterly dividend increase of from $ 0.345 to $ 0.36 per share that’s payable July 1, 2022 to holders of record June 15, 2022. This represents a 4.35% increase over the last quarter dividend.


Roger Perreault, President and Chief Executive Officer of UGI, said, “We are pleased to increase our common stock quarterly dividend, marking the 35th consecutive year of increases. This increase is reflective of our strong balance sheet and ongoing confidence in UGI’s cash generation capability. Over the past 10 years, UGI’s dividend has provided a compound annual growth rate of 7.2%, well above our 4% commitment to shareholders.”


With current price $ 37.10 (yesterday's close), this raise brings their dividend yield to 3.88%.


UGI is a Dividend Champions with a 35 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.1, 9.8, 7.7 and 7.1 (Dividend Champions.xls)



Since I own 80 shares of UGI, this will increase my portfolio's projected annual net dividend income by $ 3.58.


I was expecting an increase of about 5%, so this increase was a little lower than I expected but I am happy to take it.


This is the second dividend increase I've received from Johnson & Johnson since initiating a position in September 2020. During that period, the quarterly dividend has grown resonably from $ 0.33 to $ 0.36, or 9.1 percent.


This increase raises my YoC to 4.29%.



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 UGI


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