Hi everyone last night my portfolio received it’s sixth dividend increase of the year and I thought I would share the news with you. ZCL Composites Inc. announced a 13% increase to their dividend.
About the Company
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 aboveground 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 Aboveground Fluid Containment (Aboveground). 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. The Corrosion Products are included in the Aboveground segment, and use the brand identities of ZCL Corrosion, ZCL Dualam and ZCL Troy.
Source (RBC Direct Investing)
With this announcement ZCL Composites dividend will now increase to $0.135 from $0.12. I currently own 227 shares. With this announcement my quarterly income will increase $3.41 and my annual income will increase by $13.64.
This is the second raise I have received from the company since owning the stock.
If you own ZCL Composites Inc. congrats on the raise.
Thanks for reading