Hi guys in May I received three dividend increases and I thought I would share them with you. It is always nice to receive money for doing nothing, I should know as I work 7 days a week. So far in 2017 I have received 12 dividend increases and one special dividend.
My first increase came on May 9th from Telus.
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions. The Company operates through two business segments: Wireless segment and Wireline segment. Its wireless and wireline businesses are primarily operated through TELUS Communications Company (TCC). The Company offers business services, including healthcare, across wireless and wireline are supported through TELUS sales representatives, product specialists, independent dealers and online self-serve applications for small and medium-sized businesses (SMBs).
(Source Google Finance)
On May 9th the Board of Directors at Telus announced an increase to the company’s dividend, the 13th since 2011. The new dividend will be $0.4925 from $0.48 and is payable on July 4th to shareholders of record on June 9th. This will be my 4th increase I have received from Telus since owning the stock.
I currently own 100 shares so with the increase my income will increase $1.25 per quarter or $5 annually.
The second increase I received came from Power Corp.
Power Corporation of Canada is a diversified management and holding company. The Company has interest in the financial services, renewable energy, communications and other business sectors. Its principal asset is the controlling interest in Power Financial Corporation (Power Financial). Its segments are Great-West Lifeco Inc. (Lifeco), IGM Financial Inc. (IGM) and Pargesa Holding SA (Pargesa). Lifeco offers life insurance, health insurance, retirement and investment services, and is engaged in the asset management and reinsurance business. IGM is a financial services company operating in Canada, primarily within the advice segment of the financial services market. Pargesa is a holding company with diversified interests in Europe-based companies active in various sectors, such as minerals-based specialty solutions for industry; cement, aggregates and concrete; testing, inspection and certification; wines and spirits, and electricity, natural gas and energy and environmental services.
(Source Google Finance)
Also on May 9th the Board of Directors at Power Corp. (ticker: POW) announced a 7% increase to the dividend. The new dividend is $0.3585 from $0.3350 and is payable on June 30th to shareholders of record on June 9th. This marks the third consecutive year that they raised the dividend. I have owned the stock since 2016 and this marks the second increase I have received from them.
I currently own 59 shares of Power Corp. with this announcement my income increases $1.39 per quarter or $5.56 annually.
My third increase announcement came from Bank of Montreal (BMO)
Bank of Montreal (the Bank) is a financial services provider. The Bank provides a range of personal and commercial banking, wealth management and investment banking products and services. The Bank conducts its business through three operating groups: Personal and Commercial Banking (P&C), Wealth Management and BMO Capital Markets. The P&C business includes two retail and business banking operating segments, such as Canadian Personal and Commercial Banking (Canadian P&C), and the United States Personal and Commercial Banking (U.S. P&C). The Bank’s Wealth Management business serves a range of client segments, from mainstream to ultra-high net worth and institutional, with an offering of wealth management products and services, including insurance. BMO Capital Markets is a North American-based financial services provider offering a range of products and services to corporate, institutional and government clients. The Bank has over 1,500 bank branches in Canada and the United States.
(Source Google Finance)
On May 24th the Board of Directors at Bank of Montreal (ticker: BMO) announced a 2.3% increase to the dividend. The new dividend will be $0.90 from $0.88 and will be payable on August 28th to shareholders of record on August 1st. I have owned shares of the bank since 2014 and this is the 6th increase I have received.
I currently own 71 shares of BMO and my income will increase $1.42 per quarter or $5.68 annually.
Combined these raises increased my annual income $16.24 not a huge amount but pretty good for not having to do anything. Also with BMO and Telus over the last several years they have been boosting their dividends semi-annually so if all goes well shareholders should be receiving another raise later this year.
Thanks for reading everybody and congrats on the raises if you own these stocks.