Broadcom continues monster dividend growth record with 14% hike

Broadcom (AVGO) has now raised the dividend 13 consecutive years.

In one of the biggest dividend weeks of 2023 many US companies announced dividend hikes, including big names such as Broadcom, Deere, CVS Health, Eli Lilly and Ecolab. Check this weekly dividend update with all dividend increases announced between December 4 and 7 of 2023. We especially focus on Broadcom, hiking the dividend for the 13th consecutive year with another double digit hike.

The biggest dividend hike this week was announced by Korn Ferry, the organizational consulting company that declared a $0.33 quarterly dividend, up 83%. The dividend yield for Korn Ferry is 2.45% at a stock price of $53.89. The video below gives you more details about this company and information on other dividend hikes last week.

Four companies announced big special dividends this week: CME Group, Saga Communications, Paccar and Landstar Systems. Also one Dividend Aristocrat, Ecolab, announced its annual dividend hike. On Friday, Eli Lilly, one of the best performing stocks in 2023 and the biggest pharma company based on market cap, announced yet another 15% dividend hike to a new record high of $1.30 quarterly per share.

The video below, made by the new Youtube channel Dividend Freak, shows all dividend hikes and special dividends announced between December 4 and December 7. This channel makes weekly videos, so the Eli Lilly dividend hike from Friday December 8 will most likely be included in the next video.

The video above shows all dividend increases announced in the United States last week, including the 4 special dividends from the companies mentioned earlier in this article. We look at 1 company in particular because of its amazing dividend growth history: Broadcom. Below you see the amazing dividend growth history of the company formerly known as Avago Technologies (which explains the current ticker symbol).

• ALSO READ: Walt Disney reinstates semi-annual dividend

The semiconductor company keeps impressing with its 13th consecutive year with a double digit dividend hike. On December 7, 2023, Semiconductor and business software company Broadcom (symbol AVGO) announced a 14.1% dividend increase to $5.25 quarterly per share. This marks 13 consecutive years of dividend growth for Broadcom with a double digit increase every single year! At a current stock price of $944 the dividend yield for Broadcom is 2.2%.

Broadcom keeps hiking the dividend (source: dividendhike X)

These historical dividend increases are unbelievable, especially for a company as big as Broadcom is right now with a market cap of $390 billion. The biggest dividend hikes were announced from 2011 to 2018; most investors missed the size of these hikes because of the fact that Broadcom announced multiple smaller (but almost always double digit) dividend increases annually. The Dividend Freak Youtube channel shows us how big the dividend hikes by Broadcom have been since 2011.