Tuesday, December 12th the Board of Directors of Amgen Inc. (AMGN) announced a quarterly dividend increase of from $2.13 to $2.25 per share that’s payable March 7, 2024 to holders of record February 16, 2024. This represents a 5.63% increase over the last quarterly dividend.
With current price $276.32 (yesterday's close), this raise brings their dividend yield to 3.26%.
Amgen is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.2, 10.2, 11.0 and 18.3 (Dividend Champions.xls)
Since I own 10 shares of AMGN, this will increase my portfolio's projected annual net dividend income by $3.58.
I was expecting an increase of about 8%, so this was a bit of a disappointment, but better than nothing, of course.
This is the second dividend increase I received from Amgen since initiating a position January 2022.
This increase raises my YOC to 3.96%.
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 AMGN
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