On December 8, 2022 Bristol Myers Squibb (NYSE: BMY) reported that its Board of Directors has declared a quarterly dividend of fifty-seven cents ($0.57) per share on the $.10 par value common stock of the company (Press release, Bristol-Myers Squibb, DEC 8, 2022, View Source [SID1234624941]). The dividend is payable on February 1, 2023 to stockholders of record at the close of business on January 6, 2023.

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This quarterly dividend represents a 5.6% increase over last year’s quarterly dividend rate of fifty-four cents ($0.54) 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 2023 is $2.28 per share. This marks the fourteenth consecutive fiscal year that the company has increased its dividend and the 91st consecutive year that the company has paid a dividend.

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 on March 1, 2023 to stockholders of record at the close of business on January 31, 2023.