DUK’s 92nd consecutive annual dividend
The largest regulated utility in the country, Duke Energy (DUK), increased its quarterly dividend by 4.2% to $0.93 per share. In the last quarter, it paid a per-share dividend of $0.89. The dividend is payable on September 17 to shareholders of record on August 17. With this increase, Duke Energy is expected to pay annualized dividends of $3.71 per share in the next 12 months.
Duke Energy is trading at a dividend yield of 4.6%—higher than broader utilities’ average dividend yield of 4.2%. It’s also trading at a premium yield to its five-year average yield of 4.1%.
Duke Energy paid a cash dividend for the past 92 consecutive years. It’s one of the top-yielding utilities among the S&P 500 Utilities Index (XLU). Duke Energy’s dividend yield has always been higher than its peers’ average in the last five years.
In the last five years, Duke Energy managed to increase its dividend per share by 2.9%, compounded annually. Duke Energy’s dividend growth during this period was below broader utilities’ dividend growth. Utilities at large (XLU)(IDU) increased their dividend per share ~4%. Southern Company increased its dividends by 3.4% while NextEra Energy increased its dividends by 10.4%.