Thursday, February 9, 2023

Dividend Increase - United Parcel Service, Inc. (UPS)


Tuesday, January 31st the Board of Directors of United Parcel Service, Inc. (UPS) announced a quarterly dividend increase of from $1.52 to $1.62 per share that’s payable March 10, 2023 to holders of record February 21, 2023. This represents a 6.58% increase over the last quarterly dividend.

In addition, the UPS Board of Directors has approved a new $5 billion share repurchase authorization, replacing the company’s existing authorization.

With current price $ 186.73 (today's open), this raise brings their dividend yield to 3.47%.

UPS is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 49.0, 16.6, 12.9 and 10.3 (Dividend Champions.xls)

Since I own 65 shares of UPS, this will increase my portfolio's projected annual net dividend income by $ 19.37.

I was expecting an increase of around 10%, so this announcement was a slight disappointment.

This is the 4th dividend increase I've received from United Parcel Service since initiating a position in May 2019. During this period, the dividend has grown magnificently from $0.96 to $1.62 or 68.8%.

This increase raises my YOC to 6.44%.

Summary of 2023 Dividend Increases / Cuts

Click here to see my portfolio holdings.

You can follow the development of my dividends here.

Full Disclosure: Long UPS

Thanks for stopping by!

No comments:

Post a Comment