Tuesday, February 20th the Board of Directors of The Home Depot, Inc. (HD) announced a quarterly dividend increase of from $2.09 to $2.25 per share that’s payable March 21, 2024 to holders of record March 7, 2024. This represents a 7.7% increase over the last quarter dividend. This is the 148th consecutive quarter the Company has paid a cash dividend.
With current price $377.61 (today's open), this raise brings their dividend yield to 2.38%.
Home Depot is a Dividend Contenders with a 15 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.0, 11.7, 15.2 and 18.3 (DividendChampions.xls)
Since I own 15 shares of HD, this will increase my portfolio's projected annual net dividend income by $7.15.
This increase was a little less than I expected, but I can be satisfied with that too.
This is the fifth dividend increase I've received from Home Depot since initiating a position in March 2019. During this period, the quarterly dividend has increased nicely from $1.36 to $2.25 or 65.4 percent.
This increase raises my Yield on Cost to 4.88%.
Summary of 2024 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long HD
Thanks for stopping by!
7,7% is a nice raise !!
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