Thursday, February 15th the Board of Directors of The Coca-Cola Company (KO) announced a quarterly dividend increase of from $0.46 to $0.485 per share that’s payable April 1, 2024 to holders of record March 15, 2024. This represents a 5.43% increase over the last quarter dividend. This was the company’s 62nd consecutive annual dividend increase.
The company returned $8 billion in dividends to shareowners in 2023, bringing the total amount of dividends paid to shareowners since Jan. 1, 2010, to $84.7 billion.
With current price $60.70 (yesterday's close), this raise brings their dividend yield to 3.20%.
Coca-Cola is a Dividend Champions with a 62 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 4.5, 3.9, 3.4 and 5.1 (Dividend Champions.xls)
Since I own 150 shares of KO, this will increase my portfolio's projected annual net dividend income by $11.18.
This increase was in line with my expectations.
This is the 11th dividend increase I've received from Coca-Cola since initiating a position in October 2013. During this period, the quarterly dividend has risen moderately from $0.28 to $0.485 or 73.2 percent.
This increase raises my yield on cost to 5.18%.
Summary of 2024 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long KO
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