This morning the Board of Directors of Coca-Cola (KO) announced a 9.8% increase in their quarterly dividend from $0.255 to $0.28 per share. This marked the 51st consecutive annual dividend increase which is just amazing. There's very few companies that have a 25 year record, let alone broken the 50 year mark.
The new dividend will be payable on April 1st to shareholders of record on March 15th. It's great seeing one of your core holdings increase the dividend, and it's even better when it's a 10% increase. Coca-Cola's BoD had slowed the dividend growth during the recession but I expect it to be closer to the 10% mark if we can get growth in the economy and avoid another recession.
The increase will provide an extra $7.87 in annual dividends before reinvestment or further increases. My YOC for my position in KO increased from 3.02% to 3.32% and for the entire FI portfolio it increased from 2.79% to 2.81%. The forward 12-month dividends for my FI portfolio now sits at $1,902.37.