Hi everyone today’s post is a small one. I just wanted to share with you my first dividend increase of the year, it took only nine days into 2020 for my first stock to announce a dividend raise which was Canadian Utilities. The board of directors on Thursday January 9th after the market closed announced a three percent raise to the dividend. Dividend raises are always great and welcomed by investors but this raise was a little lower than what I was expecting and I think what other investors were expecting as well. Usually the raises are higher around 5% to 6% for Canadian Utilities. I can’t complain too much can I? A raise is a raise and I’m happy to receive more money.
The dividend will be increasing to $0.4354 quarterly up from $0.4227. I currently own 156 shares so this raise increases my quarterly income by $1.98, annually my income goes up by $7.92.
If you own the stock congrats on your raise as well. Thanks for reading and I will have a new post coming out on Thursday where I will share my goals for 2020.