Wednesday, December 6th the Board of Directors of Bristol-Myers Squibb Company (BMY) announced a quarterly dividend increase of from $0.57 to $0.60 per share that’s payable February 1, 2024 to holders of record January 5, 2024. This represents a 5.26% increase over the last quarterly dividend.
This marks the 15th consecutive year that the company has increased its dividend and the 92nd consecutive year that the company has paid a dividend.
With current price $50.31 (yesterday's close), this raise brings their dividend yield to 4.77%.
Bristol-Myers Squibb is a Dividend Contenders with a 15 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.2, 9.6, 6.7 and 4.7 (Dividend Champions.xls)
Since I own 80 shares of BMY, this will increase my portfolio's projected annual net dividend income by $7.15.
This increase was in line with my expectations and I happy to take it.
This is the third dividend increase I received from BMY since initiating a position in in December 2020. During this period, the quarterly dividend has risen reasonably from $0.49 to $0.60, or 22.5%
This increase raises my YOC to 3.94%.
Summary of 2023 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long BMY
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