Thursday, February 16th the Board of Directors of The Coca-Cola Company (KO) announced a quarterly dividend increase of from $ 0.44 to $ 0.46 per share that’s payable April 3, 2023 to holders of record March 17, 2023. This represents a 4.55% increase over the last quarter dividend. This was the company’s 61th consecutive annual dividend increase.
With current price $59.72 (yesterday's close), this raise brings their dividend yield to 3.08%.
Coca-Cola is a Dividend Champions with a 61 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.8, 3.2, 3.5 and 5.6 (Dividend Champions.xls)
Since I own 150 shares of KO, this will increase my portfolio's projected annual net dividend income by $8.94.
This increase was in line with my expectations.
This is the 10th dividend increase I've received from Coca-Cola since initiating a position in October 2013. During this period, the quarterly dividend has risen moderately from $0.28 to $0.46 or 64.3 percent.
This increase raises my YOC to 4.91%.
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 KO
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