On December 10, 2020 Bristol Myers Squibb (NYSE:BMY) reported that its Board of Directors has declared a quarterly dividend of forty-nine cents ($.49) per share on the $.10 par value common stock of the company (Press release, Bristol-Myers Squibb, DEC 10, 2020, View Source [SID1234573349]). The dividend is payable on February 1, 2021 to stockholders of record at the close of business on January 4, 2021.

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This amount represents an 8.9% increase in the quarterly dividend over last year’s quarterly rate of forty-five cents ($.45) per share. At this quarterly dividend rate, subject to the normal quarterly review by the Board of Directors, the annual dividend rate for the fiscal year 2021 is $1.96 per share. This marks the twelfth consecutive fiscal year that Bristol Myers Squibb increased its dividend payouts.

In addition, the Board of Directors has declared a quarterly dividend of fifty cents ($0.50) per share on the company’s $2.00 convertible preferred stock, payable March 1, 2021 to stockholders of record at the close of business on February 2, 2021.