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General Dynamics Corporation (GD) recently increased its quarterly dividend by 7.58%, from $1.32 to $1.42 per share. The dividend will be paid on May 10 to shareholders of record on April 12. The ex-dividend date is April 11.

The stock's contribution to my portfolio's projected annual dividend income will increase by $40 to $568.

I own 100 shares of the stock at an average cost basis of $120.86 per share. Following this increase, my yield on cost is 4.70% (GD's forward yield is 2.08% at $273.22 per share).

General Dynamics became my portfolio's 1^st Home Run stock in October 2014, when the stock doubled my original capital outlay.

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