Hello everyone today I would like to share some good news with you a rarity these days. On May 7th when Algonquin Power & Utilities announced their quarterly earnings. As a utility Algonquin held up pretty well during the first quarter.
During the earnings release the Board of Directors announced a 10% increase to the company’s dividend. The company since it has the bulk of it’s operations in the United States and pays the dividend in US dollars. The quarterly payout will increase to $0.1551 up from $0.1410.
I currently own 329 shares and my dividend income will increase $4.64 quarterly and $18.56 annually.
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 |
| Home Depot | $1.36 | $1.50 | $6.72 |
| Transcontinental | $0.2200 | $0.2250 | $2.44 |
| Aecon Group | $0.145 | $0.16 | $2.40 |
| Power Corp | $0.405 | $0.4475 | $40.12 |
| Johnson & Johnson | $0.9500 | $1.01 | $5.76 |
| Algonquin Power & Utilities | $0.1410 | $0.1551 | $18.56 |
| Total | $169.44 |
If you are a shareholder congratulations on the raise!
Thanks
Matthew
10% sounds terrific, Matthew. I didn’t get to share in this raise, but I’m stoked for you. This goes to show that it’s not all gloom and doom out there. Congrats!
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Thanks I appreciate it! 🙂
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