Thursday, October 6, 2022

Dividend Increase - Lockheed Martin Corporation (LMT)



Friday, September 30th the Board of Directors of Lockheed Martin Corporation (LMT) announced a quarterly dividend increase of from $ 2.80 to $ 3.00 per share that’s payable December 30, 2022 to holders of record December 1, 2022. This represents a 7.14% increase over the last quarterly dividend.


With current price $ 402.51 (yesterday's close), this raise brings their dividend yield to 2.98%.



Starbucks Corporation is a Dividend Contenders with a 20 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 8.2, 8.9, 9.4 and 12.5 (Dividend Champions.xls)



Since I own 20 shares of LMT, this will increase my portfolio's projected annual net dividend income by $ 11.92.


This increase was in line with my expectations.


This is the second dividend increase I received from Lockheed Martin since initiating a position January 2021. During this period, the quarterly dividend has increased moderately from $2.60 to $3.00, or 15.4%.


This increase raises my YOC to 3.51%.



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 LMT


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