Hi everyone and welcome back to my site. Today I am going to share with you my latest dividend increase that I received with you. On December 8th during Enbridge’s Investor Day, the company announced a 3% dividend increase, which makes it the 26th consecutive year Enbridge has raised their dividends. Enbridge is my largest holding and I currently hold it in three of my investments accounts so it was great to see them raise the dividend again.
The new dividend of $0.835 per share will take affect with the March 1st, 2021 payment. I currently own 350 shares and here is the breakdown of income growth per account I will receive due to the raise.
RRSP
Currently hold 167 shares in this account and my income will grow per quarter by $4.17 and annually by $16.68.
LIRA
Currently hold 122 shares in this account, my income will grow $3.05 quarterly and $12.20 annually.
TFSA
Currently have 61 shares, my income will grow $1.52 quarterly and $6.08 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 |
| 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 |
| Enbridge | $0.81 | $0.835 | $34.96 |
| Total | $324.96 |
Now let’s take a look at the cuts I have received as well this year.
| Stock | Old Dividend | New Dividend | Income 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 |
The dividend raises have been able to narrow the losses this year, so far it looks like my income will be short $639.38 due to the cuts shown above.
If you own Enbridge then congrats on the raise fellow shareholder!
Thanks
Matthew
Congrats on dividend raise. We share this one, but those dividend cuts really weigh down
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Thanks and congratulations on the raise as well. I agree the cuts are definitely weighing me down, hopefully next year is a much better year.
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Yay!! Always good to see a raise!
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Congratulations from a fellow ENB shareholder.
Glad to see them finally start construction on the Minnesota leg of Line 3 as well – big project for the company.
Keep up the good work!
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Thank you and congrats on the raise as well. I’m happy to see construction start as well on Line 3.
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