Dividend Aristocrat Becton Dickinson raises dividend 5% in 2020

BDX is a Dividend Aristocrat (image: company website)

Dividend Aristocrat Becton Dickinson (BDX) will raise its quarterly dividend by 5.1 percent to $0.83 per share in 2020. 

This is double the dividend hike announced last year by the medical technology company and marks the 49th consecutive year of dividend increases for Becton.

The increased dividend of 83 cents will be payable on December 31, 2020 to holders of record on December 10, 2020.  

The indicated annual dividend rate for fiscal year 2021 is $3.32 per share. Becton Dickinson's dividend yield is approximately 1.5% at a stock price of $229.

"This is the 49th consecutive fiscal year in which we have raised our dividend.  This increase reflects our confidence in our long-term outlook, as well as our ongoing commitment to return capital to our shareholders and create value for all stakeholders," said Tom Polen, CEO and president of BD.  "COVID-19 has a significant impact on health care utilization globally.  However, our strong execution enabled us to respond swiftly to the pandemic and close the year delivering revenue growth in fiscal Q4, offsetting continued COVID-19 headwinds with the launch of multiple innovative COVID-19 diagnostic solutions while at the same time advancing our long-term growth strategy. We remain focused on partnering with governments, health care systems, and health care professionals to navigate the COVID-19 pandemic—including providing access to our SARS-CoV-2 diagnostics tests and injection devices for future global vaccinations campaigns—as well as supplying products and solutions for ongoing care for patients around the world. We are steadfast in our commitments, including completing our Alaris 510(k) submission, investing in growth initiatives, simplifying our processes, and empowering our organization."

Last year Becton Dickinson announced a 2.6 percent dividend increase, at the time marking 48 straight years of dividend increases by the Dividend Aristocrat.

Becton Dickinson is one of the largest global medical technology companies in the world and is advancing the world of health by improving medical discovery, diagnostics and the delivery of care. The company supports the heroes on the frontlines of health care by developing innovative technology, services and solutions that help advance both clinical therapy for patients and clinical process for health care providers. BD and its 65,000 employees have a passion and commitment to help enhance the safety and efficiency of clinicians' care delivery process, enable laboratory scientists to accurately detect disease and advance researchers' capabilities to develop the next generation of diagnostics and therapeutics. BD has a presence in virtually every country and partners with organizations around the world to address some of the most challenging global health issues. By working in close collaboration with customers, BD can help enhance outcomes, lower costs, increase efficiencies, improve safety and expand access to health care.