Dividend Increase #23 of 2020

Hi fellow investors, today I wanted to share my latest dividend increase with you. On November 6th Telus announced their latest quarterly results, in that announcement the Board of Directors announced an approximately 7% raise to the company’s quarterly dividend. The company also announced that they were reinstating their multi-year dividend growth program through to 2022. With that they are targeting 7 to 10% annual growth to the dividend.

With this news the dividend will increase to $0.3112 up from $0.29125. At the time of this news I currently hold 242 shares in two accounts.

Tax Free Savings Account

In my TFSA I currently hold 199 shares and so my quarterly income will increase by $3.97 and annually by $15.88.

Registered Retirement Savings Plan

I currently own 43 shares in this account. If I keep these shares for the next year my quarterly income will increase by $0.86 and annually by $3.44.

Portfolio Raises in 2020

StockOld DividendNew DividendForward 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$0.420.465$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
Walgreen’s Boots Alliance$0.4575$0.4675$0.80
Altria Group$0.84$0.86$6.88
Microsoft$0.51$0.56$4.20
Texas Instruments$0.90$1.02$11.04
Fortis$0.477$0.505$29.68
Lockheed Martin$2.40$2.60$11.20
AbbVie$1.18$1.30$37.44
Telus$1.16$1.24$19.32
Total$290.00

Portfolio Cuts in 2020

StockOld DividendNew DividendIncome Lost
NFI Group$1.70$0.85$45.05
Inter Pipeline$1.71$0.48$380.07
Diversified Royalty Corp$0.24$0.20$7.98
Chorus Aviation$0.48$0.00$244.32
The Keg Royalties Income Fund$1.13$0.42$219.60
Suncor$1.86$0.84$67.32
Total$964.34

I thought it would be good to share with you a total of the six dividend cuts that I have received this year. It’s great to show all the increases and the total income I will receive from them. Three of the stocks that cut their dividend are no longer in my portfolio, however I did lose income from them and felt it wise to continue them as a cut for the portfolio.

I received a bit of good news from The Keg Royalties Income Fund in September, they announced they were increasing their distribution to $0.05 per unit up from $0.035. In the announcement it said for the next three months then they would see how the business is doing. With rising cases of COVID-19 and further restrictions coming into force in Canada I’m not sure if this dividend increase will be sustainable. With this three month increase (minimum) my income will rise by $4.60 per month and in total $13.80 so I have reclaimed a tiny amount that I’ve lost.

After looking at my dividend cuts and raising received so far in 2020 my dividend income has decreased by $674.34.

Congrats to all of my fellow shareholders with this raise.

Thanks

Matthew

4 thoughts on “Dividend Increase #23 of 2020

  1. Hi Matthew,

    I’ve had a few cuts and dividend suspensions in our Canadian taxable portfolio this calendar year.

    IPL was the worst cut (sold recently). CAE suspended their dividends, also sold. RCH suspended their dividends but has since re-instated them. Also cuts to CSW.A and LNF. Dividends now re-instated in both companies.

    Telus has been a good one for us.

    Keep adding to your favourites.

    Liked by 1 person

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