Wednesday, January 31st the Board of Directors of Eversource Energy (ES) announced a quarterly dividend increase of from $0.675 to $0.715 per share that’s payable March 29, 2024 to holders of record March 5, 2024. This represents a 5.93% increase over the last quarterly dividend.
With current price $55.20 (Friday's close), this raise brings their dividend yield to 5.18%.
Eversource Energy is a Dividend Champions with a 26 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.9, 6.0, 6.0 and 6.3 (Dividend Champions.xls)
Since I own 20 shares of ES, this will increase my portfolio's projected annual net dividend income by $2.38.
The increase met my expectations.
This is the first dividend increase I've received from Eversource Energy since initiating a position in January 2024.
This increase raises my yield on cost to 5.02%.
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 ES
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