Emerson Electric announces 2023 dividend hike | 67 consecutive years of growth
Dividend Aristocrat Emerson Electric (EMR) declared a quarterly cash dividend of $0.525 per share, up 1% from the previous quarterly rate of $0.52 per share. This marks 67 consecutive years of dividend growth by the industrial company.
The next dividend by Emerson ($0.525 quarterly) is payable December 11, 2023 to stockholders of record November 17, 2023. The new annual dividend rate will jump to $2.10 per share for Emerson, giving the stock a 2.3% dividend yield at a stock price of $84.
EMERSON DIVIDEND STATS
- Hike years: 67
- Yield: 2.3%
- Annual dividend rate: $2.10 per share
- Market cap: $54.3 billion
- 5 year CAGR: +1.4%
- Annual dividend payment: $1.2 billion
The ex-dividend date for the next dividend will be November 16, 2023. Emerson also announced a 1% dividend hike in 2022 preceeded by a 2% hike back in 2021 with the 5 year CAGR now standing at only 1.4%, making the company one of the slowest dividend growers of all Aristocrats. The company will now pay an estimated $1.2 billion in dividends annually to shareholders.
Other Dividend Aristocrats announcing a dividend hike recently are Exxon Mobil and AbbVie.
Emerson (NYSE: EMR) is a global technology and software company providing innovative solutions for the world's essential industries. Through its leading automation portfolio, including its majority stake in AspenTech, Emerson helps hybrid, process and discrete manufacturers optimize operations, protect personnel, reduce emissions and achieve their sustainability goals.
