Wednesday, December 11th the Board of Directors of Bristol-Myers Squibb Company (BMY) announced a quarterly dividend increase of from $0.60 to $0.62 per share that’s payable February 3, 2025 to holders of record January 3, 2025. This represents a 3.33% increase over the last quarterly dividend.
This marks the 16th consecutive year that the company has increased its dividend and the 93 rd consecutive year that the company has paid a dividend.
With current price $57.65 (yesterday's close), this raise brings their dividend yield to 4.30%.
Bristol-Myers Squibb is a Dividend Contenders with a 16 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.6, 8.2, 7.3 and 5.0 (DividendChampions.xls)
Since I own 120 shares of BMY, this will increase my portfolio's projected annual net dividend income by $7.15.
I was expecting an increase of around 5%, so this was a bit disappointing, but better than nothing.
This is the fourth dividend increase I received from BMY since initiating a position in in December 2020. During this period, the quarterly dividend has risen reasonably from $0.49 to $0.62, or 26.5%
This increase raises my YOC to 4.51%.
Summary of 2024 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long BMY
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