Hey guys today I thought I would share a dividend increase with you that I received. On February 16, 2017 TransCanada’s board of directors announced a 10.6% increase to their dividend. Not only is the increase a positive for shareholders but the percentage is as well. TransCanada announced a couple years ago that they were targeting dividend growth of between 8 to 10%, so as you can see this increase was higher than their stated goal.
TransCanada Corp (TransCanada) is an energy infrastructure company. The Company operates through three segments: Natural Gas Pipelines, Liquids Pipelines and Energy. The Natural Gas Pipelines segment consists of the Company’s investments in approximately 67,300 kilometers (km) (approximately 41,900 miles) of regulated natural gas pipelines and over 250 billion cubic feet (Bcf) of regulated natural gas storage facilities. These assets are located in Canada, the United States and Mexico. The Liquids Pipelines segment consists of approximately 4,250 km (approximately 2,640 miles) of crude oil pipeline systems, which connect Alberta and the United States crude oil supplies to the United States refining markets in Illinois, Oklahoma and Texas. The Energy segment consists of the Company’s investments in over 20 electrical power generation plants and approximately two non-regulated natural gas storage facilities.
(Source: Google Finance)
TransCanada pays a quarterly dividend and with the increase announcement, the dividend will raise from $0.565 to $0.625. I currently own 102 shares of the company and this is the third increase I have received since starting a position in TransCanada in 2014.
My forward income increases by $24.48 with this dividend raise.
Congrats to all of the other shareholders who received this raise.
Thanks for reading