Hello readers, it is extremeky hot here in Tokyo today. I overlooked a great news for my portfolio. On July 13th Cummins Inc. (CMI has declared a 5.1% hike in its quarterly cash dividend to $1.025 per share from the prior payout of 97.5 cents.
The new dividend will be paid on Sep 1, to shareholders on record as of Aug 22, 2016. The increased dividend implies an annual yield of 3.4%, based on the company’s closing share price of $118.98 as of Jul 12.
The YOC of my position in CMI has increased to 4.7% from 4.5% and the prosition will bring me $164 gorss dividends for the next year as I have 40 sahres.
Disclosure: Long CMI