Hello everyone I have a couple of dividend increases to share with you today. So far in the month of May I have had 5 companies in my portfolio announce increases to their dividend. The first company that I will talk about today is Power Corporation of Canada (POW) which announced a 7.6% increase last Friday May 13, 2016. The second company that I will talk about is JP Morgan (JPM) which today Tuesday May 17, 2016 announced a 9% increase to their dividend.
Power Corporation of Canada
Power Corporation of Canada is a diversified management and holding company. The Company has interest in the financial services, communications and other business sectors. Its principal asset is the controlling interest in Power Financial, which controls Lifeco and IGM. Power Financial Europe B.V., a subsidiary of Power Financial, and Frere Group of Belgium together have a controlling interest in Parges. Lifeco offers life insurance, health insurance, retirement and investment services, and is engaged in the asset management and reinsurance business. IGM Financial is a financial services company. It operates through its subsidiaries, including Square Victoria Communications Group, a 100% owned company engaged in the communications and media industry, and Power Energy, holding investments in renewable energy companies: Potentia Solar and Eagle Creek. It also operates equity investment funds in three geographies: Sagard Europe, Sagard Capital in the United States and Sagard China.
(Source Google Finance)
As I mentioned above last Friday May 13, 2016 Power Corporation announced a 7.6% increase to their dividend. The old dividend $0.31125 increases to $0.3350 payable on June 30, 2016 with a record date to shareholders of June 9, 2016. Earlier this I purchased a small position in this company 36 shares. This is the first increase of what I hope is many dividend increases from this company. With this increase my income will go up by $2.57 for the rest of the year.
JPMorgan Chase & Co. is a financial holding company. The Company is engaged in investment banking, financial services. It operates in four segments, as well as a Corporate segment. Its segments are Consumer & Community Banking, Corporate & Investment Bank, Commercial Banking and Asset Management. The Consumer & Community Banking segment serves consumers and businesses through personal service at bank branches and through automatic teller machines, online, mobile and telephone banking. The Corporate & Investment Bank segment, comprising Banking and Markets & Investor Services, offers investment banking, market-making, prime brokerage, and treasury and securities products and services to corporations, investors, financial institutions, and government and municipal entities. The Commercial Banking segment provides financial solutions, including lending, treasury services, investment banking and asset management. The Asset Management segment comprises investment and wealth management.
(Source Google Finance)
Today Tuesday May 17, 2016 JP Morgan announced a 9% increase to their dividend payable on July 31, 2016 with a record date of July 6, 2016. The dividend increases to $0.48 from $0.44. In July 2014 I purchased 88 shares of JP Morgan this increases marks the second dividend increase I have received since owning the company. With this my income will increase $7.04 USD (9.07 CDN) the Canadian dollar amount will change due to the exchange rate it may go up or down.
Just want to congratulate my fellow shareholders in these companies it’s always nice receiving a raise for doing nothing. I hope everyone is having a great May.