Snap-on Dividend Increase
On 8 November, Snap-on (SNA) increased its quarterly dividend by 15.1%, from $1.86 to $2.14 per
share.
share.
The dividend will be paid on 10 December to shareholders of record on 21 November. The ex-dividend date is 21 November.
SNA’s contribution to DivGro’s projected annual dividend income will
increase by $67.20 to $513.60.
I own 60 shares of SNA at an average cost basis of $155.13 per share. Following this increase, my yield on cost
is 5.52%. (SNA’s forward yield is 2.40% at $356.61 per share).
Since I opened my SNA position in August 2019, the stock has produced total returns of 149%, including $1,678.55 in dividend income.
That’s an outstanding annualized rate of return of 19.8%!
SNA just became DivGro’s 47th Home Run stock in July 2023 when it doubled my original capital outlay.
5-Year History of Dividend Payouts by Ex-Date
| 2019 | 2020 | 2021 | 2022 | 2023 | • | 2024 |
| $3.93 | $4.47 | $5.11 | $5.88 | $6.72 | ⬆ | $7.72✝ |
| 15.25% | 13.74% | 14.32% | 15.07% | 14.29% | ⬇ | 14.88% |
| 5-year DGR: | 14.53% | ⬇ | 14.46% | |||
✝projected, assuming no further changes
