Dividend Increase #24 of 2020

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

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
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.

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

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

5 thoughts on “Dividend Increase #24 of 2020

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