Duke Energy Corp (NYSE:DUK) recently announced that the board of directors has approved a quarterly cash dividend on its common stock of $1.005 per share, thus rewarding its shareholders with a 2% hike. The revised quarterly dividend is payable on Sep 16, 2022 to shareholders of record at the close of the business on Aug 12, 2022. This signifies the company's capability to generate excess cash to reward shareholders with impressive dividend hikes.
The company's new annualized dividend rate is now $4.02 per share, resulting in a dividend yield of 3.8% as of Jul 14, 2022. This is better than the industry average of 3.4% and S&P 500 Composite Market Dividend Yield of 1.6%.
