Cardinal Health hikes dividend by 1% to $0.5006 quarterly in 2023

On May 11, 2023, Dividend Aristocrat Cardinal Health (CAH) announced that it will raise its quarterly dividend by 1.0 percent to $0.5006 per share in 2023. This follows a similar 1.0 percent dividend hike by the healthcare services and products company in the previous years.

The next CAH dividend will be payable on July 15, 2023 to shareholders of record at the close of business on July 3, 2023. A new annualized rate of about $2.00 per share yields 2.4% at a stock price of $84.84 for Cardinal Health. Because of this small dividend hike the average dividend growth over the last five years drops to 1.0 percent.

Cardinal Health, Inc. is an integrated healthcare services and products company, providing customized solutions for hospitals, healthcare systems, pharmacies, ambulatory surgery centers, clinical laboratories and physician offices.  The company provides medical products and pharmaceuticals and cost-effective solutions that enhance supply chain efficiency. Cardinal Health's segments are Pharmaceutical and Medical. Pharmaceutical distributes branded and generic pharmaceutical, specialty pharmaceutical, and over-the-counter healthcare and consumer products in the United States. Medical manufactures, sources and distributes Cardinal Health branded medical, surgical and laboratory products, which are sold in the United States, Canada, Europe, Asia and other markets. Cardinal Health, Inc. is an Ohio corporation formed in 1979 and has paid a dividend every year since 1983.