Thursday, May 11th the Board of Directors of Cardinal Health, Inc. (CAH) announced a quarterly dividend increase of from $0.4957 to $0.5006 per share that’s payable July 15, 2023 to holders of record July 3, 2023. This represents a 0.99% increase over the last quarter dividend.
With current price $85.80 (yesterday's close), this raise brings their dividend yield to 2.33%.
CAH is a Dividend Champions with a 27 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.0, 1.0, 1.6 and 8.1 (Dividend Champions.xls)
Since I own 70 shares of CAH, this will increase my portfolio's projected annual net dividend income by $1.02.
This increase was another disappointment, I was expecting an increase of about 4%, but it was the usual about 1%.
This is the seventh dividend increase I've received from Cardinal Health since initiating a position in November 2016. During that period, the quarterly dividend has grown pathetic from $0.4489 to $0.5006, or 11.5 percent.
This increase raises my YOC to 3.53%.
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 CAH
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