Monday, July 14th the Board of Directors of Duke Energy Corporation (DUK) announced a quarterly dividend increase of from $1.025 to $1.045 per share that’s payable September 16, 2024 to holders of record August 16, 2024. This represents a 1.95% increase over the last quarterly dividend.
Duke Energy has paid a cash dividend on its common stock for 98 consecutive years.
With current price $106.53 (yesterday's close), this raise brings their dividend yield to 3.92%.
Duke Energy is a Dividend Contenders with a 20 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.0, 2.1, 2.2 and 2.8 (Dividend Champions.xls)
Since I own 35 shares of DUK, this will increase my portfolio's projected annual net dividend income by $2.09.
This increase is quite small, although it is in line with previous increases. However, I was expecting an increase of around 3%, but I will accept that as well.
This is the seventh dividend increase I've received from Duke Energy since initiating a position in January 2018. During this period, the quarterly dividend has risen marginally from $0.89 to $1.045, or 17.4 percent.
This increase raises my YOC to 5.19%.
Summary of 2024 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long DUK
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