Bristol-Myers Squibb hikes dividend by 3.3% to $0.62 quarterly

Bristol-Myers Squibb (BMY) will raise its dividend by 3.3 percent to 62 cents per share quarterly in 2025. This brings the dividend track record to 17 consecutive years of increases for the Pharmaceuticals giant.

Last year BMY hiked the dividend by 5.3%. A new indicated annual dividend rate of $2.48 per share yields 4.1% at a stock price of $56.65. Bristol-Myers has now raised its dividend for 17 straight years with a 5 year CAGR of 6.6%.

The last double digit dividend hike by BMY was announced in 2021 (+10.2%) and the company now pays an estimated $5 billion in dividends annually to shareholders. 

Another pharma giant announcing a dividend hike this week is Amgen (AMGN) with a 5.8% raise. Amgen has hiked the dividend 13 consecutive years.

Bristol-Myers Squibb Company is is a global specialty biopharmaceutical company.  Bristol-Myers is developing new medicines in the following core therapeutic areas: oncology with a priority in certain tumor types; immunoscience with priorities in psoriasis, lupus, RA and inflammatory bowel disease;  cardiovascular with a priority in heart disease and; fibrotic disease with priorities in lung and liver. The company's top drugs include Opdivo (infused biologic immuno-oncology treatment) and Eliquis (anticoagulation). In late 2019 Bristol-Myers completed the acquisition of biopharmaceutical company Celgene Corp., combining two companies with valuable overlap in the oncology, immunology, and inflammation therapeutic areas.