Thursday, March 16, 2023

Dividend Increase - QUALCOMM Incorporated (QCOM)


Wednesday, March 8th the Board of Directors of QUALCOMM Incorporated (QCOM) announced a quarterly dividend increase of from $0.75 to $0.80 per share and will be effective for quarterly dividends payable after March 23, 2023. This represents a 6.67% increase over the last quarter dividend.

Cristiano Amon, President and CEO of Qualcomm Incorporated, said, “We are pleased to announce an increase in our quarterly dividend. We remain committed to returning capital to stockholders through a balanced capital return policy, including a baseline of anti-dilutive stock repurchases.”

With current price $115.49 (yesterday's close), this raise brings their dividend yield to 2.77%.

QUALCOMM is a Dividend Contenders with a 21 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.7, 5.7, 5.5 and 11.7 (Dividend Champions.xls)

Since I own 25 shares of QCOM, this will increase my portfolio's projected annual net dividend income by $3.73.

I was expecting an increase of around 5%, so this announcement was a positive surprise, albeit a small one.

This is the fifth dividend increase I've received from QUALCOMM since initiating a position in June 2017. During this period, the quarterly dividend has increased moderately from $0.57 to $0.80 or 40.4 percent.

This increase raises my YOC to 6.12%.

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 QCOM

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