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Home Depot (HD) recently increased its quarterly dividend by 7.66%, from $2.09 to $2.25 per share. The dividend will be paid on March 21 to shareholders of record on March 7. The ex-dividend date is March 6.

The stock's contribution to my portfolio's projected annual dividend income will increase by $64 to $900. I own 100 shares of the stock at an average cost basis of $224.26 per share. Following this increase, my yield on cost is 4.01% (Home Depot's forward yield is 2.42% at $371.96 per share).

Home Depot became my 40^th Home Run stock in November 2021, when the stock doubled my original capital outlay.

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