Saturday, March 11, 2023

Dividend Increase - Eaton Corporation plc (ETN)


Thursday, February 23rd the Board of Directors of Eaton Corporation plc (ETN) announced a quarterly dividend increase of from $0.81 to $0.86 per share that’s payable March 23, 2023 to holders of record March 6, 2023. This represents a 6.17% increase over the last quarter dividend. Eaton has paid dividends on its shares every year since 1923.

With current price $170.30 (yesterday's close), this raise brings their dividend yield to 2.02%.

Eaton is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 6.6, 4.5, 6.2 and 7.9 (Dividend Champions.xls)

Since I own 30 shares of ETN, this will increase my portfolio's projected annual net dividend income by $4.47.

This increase was slightly higher than I expected and I am happy to accept it.

This is the 8th dividend increase I've received from Eaton Corporation since initiating a position in July 2015. During this period, the quarterly dividend has increased moderately from $ 0.55 to $ 0.86 or 56.4 percent.

This increase raises my YOC to 5.46%.

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 ETN

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