Wednesday, March 6, 2013
Dividend Increase: GD
General Dynamics (GD) is increasing its quarterly dividend by 9.8%, from $0.51 to $0.56 per share, putting the company on track for its 22nd consecutive year of dividend growth. (Their press release indicates it's their 16th consecutive annual dividend increase, but they must be counting in fiscal years; the streak is higher in calendar years.) Given that I own 20 shares of GD, my quarterly dividend increases from $10.20 to $11.20, which will add an extra $4.00 to my annual dividend income. This dividend increase also boosts my yield on cost to 3.20%. Thus far this year, there have been dividend increases for 12 of the 27 dividend growth stocks in my portfolio.