Tuesday, February 21st the Board of Directors of The Home Depot, Inc. (HD) announced a quarterly dividend increase of from $1.90 to $2.09 per share that’s payable March 23, 2023 to holders of record March 9, 2023. This represents a 10.0% increase over the last quarter dividend. This is the 144th consecutive quarter the Company has paid a cash dividend.
With current price $291.49 (yesterday's close), this raise brings their dividend yield to 2.87%.
Home Depot is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 15.2, 11.8, 16.4 and 20.7 (Dividend Champions.xls)
Since I own 15 shares of HD, this will increase my portfolio's projected annual net dividend income by $8.49.
This increase was in line with my expectations and I welcome this announcement.
This is the fourth dividend increase I've received from Home Depot since initiating a position in March 2019. During this period, the quarterly dividend has increased nicely from $1.36 to $2.09 or 53.7 percent.
This increase raises my YOC to 4.53%.
Summary of 2023 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long HD
Thanks for stopping by!
A lot of nice increased dividends so far !! /Northern
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