Thursday, February 21, 2013
It was a good day for dividend growth investors
Sloppy growth, high unemployment, Europe in a recession, unsustainable Government debt, wars... These two dividend champions respond to the economic struggles by raising their cash distribution at a healthy clip:
The Board of Directors of Wal-Mart Stores, Inc. (WMT) approved an annual cash dividend for fiscal year 2014 of $1.88 per share, an increase of approximately 18 percent from the $1.59 per share paid during fiscal year 2013.
The Board of Directors of The Coca-Cola Company today approved the Company's 51st consecutive annual dividend increase, raising the quarterly dividend 10 percent from 25.5 cents to 28 cents per common share.
I was hoping for WMT to make a pullback. Although I wouldn't mind buying both KO and WMT at these prices, holding them for decades, enjoying yearly dividend raises, watching the share price go up due to share repurchases and net income growth.
I haven't decided yet what I'm going to purchase, I'm sitting on $3,300, enough for two purchases. In about a week I'll have $1,500 coming into my broker account, ready to be allocated by me.
Thanks for reading, take care.