Dividend Increase Announcement
On February 7th, BP announced a dividend increase of 10.1%. This will increase their dividend from $0.36036 to $0.3966. It is payable on March 31st for shareholders of record on February 17th. The new dividend represents an annualized dividend amount of $1.59 per share as compared to the current annualized dividend amount of $1.44 per share.
BP Dividend Information
Annual Dividend: $1.5864
Dividend Growth History: 3 years
Dividend Yield: 4.00%
Dividend Increase Effect
I am currently holding 47.167 shares of BP stock in the More Dividends portfolio. With this 10.1% increase it will add an additional $6.84 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings the new grand total up to $2,461.15
BP is a relatively new position in my portfolio. While I did like the idea of making a new investment in the oil and gas sector, I really liked their exposure to green energy aswell.
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Current Stock Position
My current stock position is relatively small. It doesn’t even compare with my position in the behemoth of Exxon Mobil. Which should be expected since the position is new.
I will continue to look for more good opportunities to add to this position. I think that they have a good future ahead of them.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in BP? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
-Jason from MoreDividends.com
Recent Dividend Increases in Portfolio
Coca Cola Increases Their Dividend by 4.5% in 2023
Walmart Increases Their Dividend by 1.8% in 2023
Genuine Parts Increases Their Dividend by 6.1% in 2023
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