One of my dividend-growth stocks, Novartis (NVS), increased its annual dividend by 2.3% today, raising the payment from CHF 2.20 to CHF 2.25 per share (CHF = Swiss Franc). This marks the company's 15th consecutive year of dividend growth in CHF.
I will not know the exact amount of the dividend in U.S. dollars (USD) until I receive it. However, with the current exchange rate being 1 CHF = 1.1059 USD, that gives an estimated amount of $2.4884. My understanding is that last year's amount was $2.3527, so the dividend increase in USD would be about 5.8%.
Given that I own 35 shares of NVS, my annual dividend will be about $87.09 before tax or $56.61 after the 35% foreign tax is withheld (which I can claim when I file my U.S. income taxes). I am not a fan of the dividend being paid annually (rather than quarterly) or the foreign tax withholding, but I can live with it. This dividend increase boosts my yield on cost to 4.44%.
Update (April 10): I have now received my NVS dividend. My estimates were pretty close -- it was $86.88 before tax and $56.47 after the 35% foreign tax withholding.