Booz Allen Hamilton hikes dividend by 9.3%

IT services and consulting firm Booz Allen Hamilton Corp (BAH) has declared a new record high quarterly dividend of $0.47 per share in Q1 of 2023, up 9.3% from the previous quarterly payment of $0.43 per share. This will mark 11 consecutive years of increased dividends by BAH. In 2022 the company announced a dividend hike of 16.2% with double digit increases in the last 10 years.

Booz Allen Hamilton Holding raised its lower-end of 2023 profit forecast range on January 27, 2023. BAH raised its revenue growth forecast to 9.5%-10.5% compared to the prior guidance of 8.0%-10.5% for fiscal 2023. For shareholders a 9.3% dividend will be paid on March 1, 2023 with an ex-dividend date of February 9, 2023. At a stock price of $92.53 the dividend yield for BAH is 1.85%. 

Booz Allen Hamilton Holding Corporation is a provider of management and technology, consulting and engineering services to the United States and international governments, corporations and not-for-profit organizations. The company was founded in 1914 by Edwin Booz, one of the pioneers of management consulting. In 1940, Booz Allen began serving the U.S. government by advising the Secretary of the Navy in preparation for World War II. The company has expanded beyond its management consulting foundation to develop deep expertise in the fields of analytics, digital solutions, engineering and cyber.