Snap-On (SNA) Dividend Increase

On November 6, Snap-on (SNA) increased its dividend by 12.70%, from $2.44 to $2.75 per share.

The dividend is payable on December 10 to shareholders of record on November 20.

SNA's contribution to DivGro's projected annual dividend income will increase by $43.40 to $385.

Created by the author

I own 35 shares of SNA at an average cost basis of $152.57/share. After this increase, my yield on cost is 7.21%, while the stock's forward yield is 3% at $367.22/share.

Since I opened my position in August 2019, the stock has delivered a 172% total return, including $1,652.75 in dividends. That's a superb annualized rate of return of 16.3%!

SNA became DivGro's 47th Home Run stock in July 2023, doubling my original capital outlay.

5-Year History of Dividend Payouts by Ex-Date

✝projected, assuming no further changes

Created by the author

On my 9-factor quality model, SNA scores 7.68, placing it in the High Quality band. Simply Safe Dividends rates SNA's dividend Very Safe at 99, the top tier of their five-band scale, and Seeking Alpha awards the stock a dividend grade of A+.