Hello everyone and welcome to my latest post. Today I am going to share with you my first dividend increase of the year. On January 11th like clock work Canadian Utilities announced an increase of 10%. I must say this wasn’t a surprise as Canadian Utilities has been raising their dividend every year since 1972.
Before we get into how much this decision will affect my income I will provide you a description of Canadian Utilities in case you are not familiar with the company.
Canadian Utilities Limited is a global enterprise company. Its segments include Electricity, Pipeline & Liquids, and Corporate & Other. Its Electricity segment’s activities are conducted through two regulated businesses; ATCO Electric Distribution and ATCO Electric Transmission, and three non-regulated businesses, ATCO Power, ATCO Power Australia and Alberta PowerLine (APL). The Pipelines & Liquids segment’s activities are conducted through three regulated businesses, ATCO Gas, ATCO Pipelines and ATCO Gas Australia, and one non-regulated business, ATCO Energy Solutions. It delivers natural gas distribution and transmission services, energy storage, and industrial water solutions to existing and new customers. The Corporate & Other segment includes retail energy business, which through ATCOenergy, sells electricity and natural gas to large commercial retail customers. It also includes the commercial real estate in Alberta, and the strategic investment and expansion into Mexico.
Source (RBC Direct Investing)
As mentioned above this is a 10% raise. Canadian Utilities was paying a dividend of $0.3575, the new dividend will now be $0.3933. This is the 4th raise I have received since I first purchased the stock.
I currently own 155 shares and my income with this decision will increase my income $22.20 annually.
Do you own Canadian Utilities? If so congrats on the raise fellow shareholder. Hopefully this is the first of many raises for my portfolio this year.
Thanks for reading