Intuit hikes dividend by 11.3%
Intuit (INTU) will raise its quarterly dividend by 11.3 percent to 59 cents per share in 2020. This follows a 12.8 percent dividend hike to $0.53 per share in 2019 and also will mark the 9th consecutive year of dividend increases for the financial software company.
The next dividend will be paid on October 19, 2020 to shareholders of record on October 12, 2020. A new annualized rate of $2.36 per share yields 0.7% at a stock price of $342 for Intuit.
After this new dividend hike Intuit will pay an estimated annual dividend amount of $615 million to shareholders. The company has been raising its dividend by double digits every year since a 15 cent per share quarterly dividend was initiated back in August 2011.
Intuit announced its biggest dividend increase in 2014, when the quarterly dividend was boosted by 31.6 percent from 19 cents to 25 cents per share. The company also hiked its dividend by more than 20 percent in both 2015 and 2018. This year's 11.3 percent dividend that was just announced is the smallest increase by Intuit since the company started paying a dividend.
Intuit Inc. is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. Intuit's reportable segments are: Small Business & Self-Employed, Consumer and Strategic Partner. The company's products and platforms, including QuickBooks, TurboTax, Mint and Turbo, are designed to help customers better manage their money, reduce their debt and file their taxes with ease. Intuit has offices in the United States, Canada, India, the United Kingdom, Israel, Australia, and other locations. Intuit was incorporated in California in March 1984. The company was reincorporated in Delaware and completed our initial public offering in March 1993.
The next dividend will be paid on October 19, 2020 to shareholders of record on October 12, 2020. A new annualized rate of $2.36 per share yields 0.7% at a stock price of $342 for Intuit.
After this new dividend hike Intuit will pay an estimated annual dividend amount of $615 million to shareholders. The company has been raising its dividend by double digits every year since a 15 cent per share quarterly dividend was initiated back in August 2011.
Intuit announced its biggest dividend increase in 2014, when the quarterly dividend was boosted by 31.6 percent from 19 cents to 25 cents per share. The company also hiked its dividend by more than 20 percent in both 2015 and 2018. This year's 11.3 percent dividend that was just announced is the smallest increase by Intuit since the company started paying a dividend.
Intuit Inc. is a provider of business and financial management solutions for small businesses, consumers and accounting professionals. Intuit's reportable segments are: Small Business & Self-Employed, Consumer and Strategic Partner. The company's products and platforms, including QuickBooks, TurboTax, Mint and Turbo, are designed to help customers better manage their money, reduce their debt and file their taxes with ease. Intuit has offices in the United States, Canada, India, the United Kingdom, Israel, Australia, and other locations. Intuit was incorporated in California in March 1984. The company was reincorporated in Delaware and completed our initial public offering in March 1993.
