On 5 September, Broadcom (AVGO) increased its quarterly dividend by 0.95%, from 52.5¢ to 53¢ per share.
The dividend will be paid on 30 September to shareholders of record on 19 September. The ex-dividend date is 19 September.
This is an unusually small increase for AVGO, likely aimed at smoothing out its fractional dividend following the company's 10-for-1 stock split. I expect AVGO to announce a more significant increase in December.
AVGO's contribution to DivGro's projected annual dividend income will increase by $2 to $212.
I own 200 shares of AVGO at an average cost basis of $25.04 per share. Following this increase, my yield on cost is 8.47%. (AVGO's forward yield is 2.10% at $172.94 per share).
Since I opened my AVGO position in December 2018, the stock has produced total returns of 623%, including $821.67 in dividend income.
AVGO became DivGro's 39th Home Run stock in October 2021, when the stock doubled my original capital outlay.
5-Year History of Dividend Payouts by Ex-Date
| 2019 | 2020 | 2021 | 2022 | 2023 | • | 2024 |
| $1.120 | $1.335 | $1.490 | $1.690 | $1.905 | ⬆ | $2.110✝ |
| 41.77% | 19.20% | 11.61% | 13.42% | 12.72% | ⬇ | 10.76% |
| 5-year DGR: | 19.25% | ⬇ | 13.50% | |||
✝projected, assuming no further changes
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