Tuessday, October 24th the Board of Directors of Visa Inc. (V) announced a quarterly dividend increase of from $0.45 to $0.52 per share that’s payable December 1, 2023 to holders of record November 9, 2023. This represents a 15.6% increase over the last quarterly dividend.
In October, the board of directors also authorized a new $25.0 billion multi-year common stock share repurchase
program.
With current price $234.65 (yesterday's close), this raise brings their dividend yield to 0.89%.
Visa is a Dividend Contenders with a 16 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 18.0, 14.5, 17.9 and 20.3 (Dividend Champions.xls)
Since I own 10 shares of Visa, this will increase my portfolio's projected annual net dividend income by $2.09.
I was expecting an increase of about ten percent, so this was a pleasant surprise.
This is the fourth dividend increase I received from Visa since initiating a position April 2020. During this period, the quarterly dividend has risen by an impressive 73.3% from $0.30 to $0.52.
This increase raises my YOC to 1.28%.
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 V
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