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On 6 November, Snap-On (SNA) increased its dividend by 14.02%, from $2.14 to $2.40 per share.
The dividend is payable on 10 December to shareholders of record on 21 November.
SNA's contribution to DivGro's projected annual dividend income will increase by $62.40 to $576.
Source: Simply Safe Dividends
I own 60 shares of SNA at an average cost basis of $155.13 per share. Following this increase, my yield on cost is 6.19%. (SNA's forward yield is 2.80% at $342.79 per share).
Since I opened my position in August 2019, the stock has delivered a total return of 145%, including $2,192.15 in dividends. That's a superb annualized rate of return of 16.3%!
SNA became DivGro's 57th Home Run stock in August 2018 when the stock 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
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