Good morning fellow investors, today I would like to share another raise I received with you. On February 21st the board of directors of Royal Bank of Canada announced a 3% increase to the banks dividend. With this announcement the bank continues with its similar plan to raise the dividend on a semi annual basis.
The dividend which is paid on a quarterly basis will now increase to $1.08 per share up 3 cents from $1.05. I currently own 96 shares and with this raise my forward income goes up by $11.52.
Portfolio Raises in 2020
| Stock | Old Dividend | New Dividend | Forward Income |
| Canadian Utilities | $0.4227 | $0.4354 | $7.92 |
| Realty Income Corp | $0.2275 | $0.2325 | $2.88 |
| Canadian National Railway | $0.5375 | $0.5750 | $2.24 |
| 3M Company | $1.44 | $1.47 | $1.20 |
| Suncor | $0.42 | 0.465 | $8.80 |
| BCE | $0.7925 | $0.8325 | $22.68 |
| Diversified Royalty Corp | $0.23 | $0.2350 | $0.98 |
| TC Energy | $0.75 | $0.81 | $35.52 |
| Royal Bank of Canada | $1.05 | $1.08 | $11.52 |
| Total | $93.74 |
My forward income is almost at $100 just from raises this year, that is so exciting knowing that my money is working for me in this way. Congratulations if you own RBC as well!
Thanks
Matthew
The compound effect is amazing. Keep on adding the good stocks!
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Thanks
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Love those consistent raises from the banks!
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