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Qualcomm Incorporated (QCOM) recently increased its quarterly dividend by 6.25%, from 80 cents to 85 cents per share. The dividend increase will be effective for quarterly dividends payable after March 21, 2024.

Qualcomm's contribution to my portfolio's projected annual dividend income will increase by $20 to $340.

I own 100 shares of the stock at an average cost basis of $109.75 per share. Following this increase, my yield on cost is 3.10% (Qualcomm's forward yield is 1.98% at $172.12 per share).

Qualcomm became my portfolio's 26^th Home Run stock in November 2020, when the stock doubled my original capital outlay.

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