Lockheed Martin Increases Their Dividend by 7.7% in 2021 | MoreDividends.com

Lockheed Martin Increases Their Dividend by 7.7% in 2021


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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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