Cencora hikes dividend by 7.8% 2024 | Biggest increase since 2020

Cencora Inc (COR), the former AmerisourceBergen Corporation (ABC), will raise its quarterly dividend by 7.8% to a new record high of 55 cents quarterly. This brings the dividend track record to 20 consecutive years of increases. The dividend yield for COR is 0.88% with this 2024 dividend hike being the biggest since 2020 by the pharmaceutical sourcing and distribution services company.

On November 5, 2024, the Company's Board of Directors declared a quarterly dividend of $0.55 per common share, an 8 percent increase in its quarterly dividend rate from $0.51 per common share. 

The quarterly dividend of $0.55 per common share is payable November 29, 2024, to stockholders of record at the close of business on November 15, 2024. At a stock price of $248.79 the dividend yield for Cencora is 0.88%. 

The company will now pay an estimated $434 million in dividends annually to its shareholders. In 2023 Cencora, then AmerisourceBergen, by a smaller 5.2%. Actually this 2024 dividend hike is the biggest since 2020. Another Health Care stock and Dividend Aristocrat raising its dividend recently is Becton Dickinson (BDX) with a 9.5% increase.

Cencora, formerly AmerisourceBergen, is a pharmaceutical sourcing and distribution services company, helping both healthcare providers and pharmaceutical and biotech manufacturers improve patient access to products and enhance patient care. With services ranging from drug distribution and niche premium logistics to reimbursement and pharmaceutical consulting services, Cencora delivers programs and solutions across the pharmaceutical supply channel in human and animal health.