Please ensure Javascript is enabled for purposes of website accessibility

Bristol Myers Squibb Declares Fresh Dividend; Yield Is 3.1%

By Eric Volkman – Sep 10, 2020 at 6:22PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The reliable dividend payer will probably hike its next distribution.

Bristol Myers Squibb (BMY 0.13%), one of the more reliable dividend payers in the pharmaceutical industry, is getting set to hand out its new distribution. On Thursday, the sprawling company's board of directors declared a new quarterly dividend of $0.45 per share, which will be dispensed on Nov. 2 to investors of record as of Oct. 2.

That matches the three preceding amounts, the most recent of which was paid out on Aug. 3. Prior to that, the company had distributed $0.41 per share.

Stethoscope atop $100 bills and pennies.

Image source: Getty Images.

As the new dividend will be the fourth time in a row Bristol Myers Squibb has paid the same amount, the next disbursement will likely represent a raise. For many years, the company has lifted its dividend once annually, close to the beginning of a year. Its lifts tend to be incremental, however: Since the start of 2010, the payout has risen relatively slowly, from $0.32 per share to the present level.

As a stock, Bristol Myers Squibb has had an up-and-down year, despite a portfolio of drugs that treat a fairly wide range of ailments and a strong pipeline. However, the company isn't involved in any meaningful way in efforts to develop either a treatment or a vaccine to combat the SARS-CoV-2 coronavirus, which, for obvious reasons, is the current hot area of development in the industry just now.

On Thursday, Bristol Myers Squibb shares sank by 1.3%, although that wasn't as steep as the 1.8% decline posted by the S&P 500 index. 

Eric Volkman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Bristol Myers Squibb. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Bristol Myers Squibb Stock Quote
Bristol Myers Squibb
BMY
$79.24 (0.13%) $0.10

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
356%
 
S&P 500 Returns
118%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 11/28/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.