H & R Block hikes dividend by 10.3% to $0.32 quarterly per share

On August 15, 2023, H&R Block (HRB) announced a 10.3% dividend hike to $0.32 quarterly per share. This marks 8 consecutive years of increased dividends by HRB. The dividend yield jumps to 3.6% at a stock price of $39. 

The Company announced today that the Board of Directors increased the quarterly dividend by 10%, representing the seventh increase in seven years. The quarterly cash dividend is now $0.32 per share, payable on October 4, 2023, to shareholders of record as of September 7, 2023. H&R Block has paid quarterly dividends consecutively since the Company became public in 1962. Since 2016, the Company has returned nearly $3.4 billion to shareholders in the form of share repurchases and dividends.

"We produced another year of robust free cash flow and repurchased a meaningful amount of shares outstanding. In addition, we announced a 10% dividend increase today, reflecting the Board's confidence in our business," said Tony Bowen, H&R Block's chief financial officer. "Since 2016, we have repurchased 37% of the Company and increased the dividend by 60%3."

H&R Block, Inc. is a consumer tax services provider. The Company provides assisted income tax return preparation, digital do-it-yourself tax solutions and other services and products related to income tax return preparation to the general public primarily in the United States, Canada and Australia. H&R Block has paid quarterly dividends consecutively since the company went public in 1962.