Lockheed Martin Increases Their Dividend by 7.7% in 2021
Dividend Increase Announcement
On September 23rd, Lockheed Martin announced a dividend increase of 7.7%. This will increase their dividend per quarter from $2.60 to $2.80. It is payable on December 27th for shareholders of record on December 1st. The new quarterly dividend represents an annualized dividend amount of $11.20 per share as compared to the current annualized dividend amount of $10.40 per share.
Lockheed Martin Dividend Information
Annual Dividend: $11.20
Dividend Yield: 3.25%
Dividend Growth History: 18 years
Dividend Increase Effect On More Dividends
I am currently holding 4 shares of Lockheed Martin in the More Dividends portfolio. With this 7.7% increase it will add an additional $3.20 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Conclusion
Lockheed Martin is the newest position in my portfolio. Literally, bought the stock 2 weeks ago and then this week they increase the dividend. You got to love that.
Previously, I had no positions in the defense sector. I had analysed the top companies and Lockheed Martin seemed like the best investment to me at the time. They have almost a 20 year streak of growing their dividend. They have a back log of work which means future earnings and their share price seems like it has plenty of room for growth.
I will be keeping an eye on this position to see if there is an opportunity to grow this position.
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 Lockheed Martin? 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
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Another solid raise from LMT amongst a busy September for increase announcements. Wish the raise was a bit more but I can’t really complain about a nearly 8% raise.
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