Friday, March 8, 2024

Dividend Increase - QUALCOMM Incorporated (QCOM)


Tuesday, March 5th the Board of Directors of QUALCOMM Incorporated (QCOM) announced a quarterly dividend increase of from $0.80 to $0.85 per share and will be effective for quarterly dividends payable after March 21, 2024. This represents a 6.25% increase over the last quarter dividend.

Cristiano Amon, President and CEO of Qualcomm Incorporated, said, “We are pleased to announce an increase in our quarterly dividend. We remain committed to returning capital to stockholders through a balanced capital return policy, including a baseline of anti-dilutive stock repurchases.”

With current price $174.82 (today's open), this raise brings their dividend yield to 1.94%.

QUALCOMM is a Dividend Contenders with a 22 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.5, 7.0, 5.3 and 9.3 (Dividend Champions.xls)

Since I own 25 shares of QCOM, this will increase my portfolio's projected annual net dividend income by $3.73.

I was expecting an increase of about 10%, so this was a bit disappointing, but I can live with it.

This is the sixth dividend increase I've received from QUALCOMM since initiating a position in June 2017. During this period, the quarterly dividend has increased moderately from $0.57 to $0.85 or 49.1 percent.

This increase raises my Yield on Cost to 6.12%.

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 QCOM

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