Hi everyone I thought I would share with you a recent increase I received from one of my investments. Well actually I received two announcements from ZCL Composites Inc. On March 8th while delivering their 4th quarter and yearly results for 2016 ZCL Composites Inc. announced that they were rewarding shareholders with a special dividend of $0.65 a share, and were also boosting their dividend by 50%.
About ZCL Composites Inc.
ZCL Composites Inc. (ZCL) is a Canada-based manufacturer and supplier of fiberglass reinforced plastic (FRP) underground storage tanks. The Company also provides custom-engineered above-ground FRP and dual-laminate composite storage tanks, piping and lining systems, and related products and accessories, where corrosion resistance is a high priority. Its segments are Underground Fluid Containment (Underground) and Above-ground Fluid Containment (Above-ground). The Company has three product groups: Petroleum Products, Water Products and Corrosion Products. The Petroleum and Water Products groups are components of the Underground segment, use a similar production process, and use the brand identities of ZCL, Xerxes, and Parabeam.
(Source: Google Finance)
So as mentioned above ZCL Composites Inc. announced that they were rewarding shareholders with a special dividend of $0.65. This is the second straight year in which a special dividend has been given to shareholders, last year in March the company paid out $0.50 a share.
I own 127 shares of ZCL so for the special dividend I will received $82.55. The special dividend will be paid to shareholders on March 31st. With this payment I will surpass what I would have received all year long with their regular dividend 🙂
Also announced was a 50% increase to their quarterly dividend, the dividend will increase to $0.12 a share from $0.08. Since 2012 ZCL has increased the dividend 10 times. This is the first increase that I have received this purchasing this stock.
So since I own 127 shares my yearly income will increase $20.32.
If you own ZCL Composites Inc. then congrats on the dividend increase and special dividend.
Thanks for reading please feel free to share.