2 Dividend Raises
2 Dividend Raises
Good Morning. What a great week dividend-wise for me. It reminds me of that gum – I have 2 jobs. Well dividend investing has rewarded me with 2 raises this week. mmmmmmmmmmmmmmm oh yeah!
Enbridge has recently pulled back because the management didn’t reiterate its dividend growth guidance. People were wondering if Enbridge would keep up with their 10-12% dividend growth strategy and how they would fund future projects. Well Wednesday night Enbridge decided to silence the critics and released their strategic update. They mentioned they will sell about 1.5 billion stock in a private sale and plan to sell 3 billion of non essential assets.
Enbridge has identified $10-billion of assets it deems not crucial, including unregulated gas midstream and onshore renewable s operations, and $3-billion of those are targeted for sale in 2018, Mr. Monaco said. – I would prefer them to keep the renewable s as it keeps them diversified but sounds like those will be gone.
They have 22 billion dollars in projects they intend to finish by 2020. Enbridge now aims to speed up their debt reduction.
About that dividend. Enbridge said it will pay out a quarterly dividend of 67.1 cents per common share, payable on March 1, 2018 which represents a 10% increase. The energy giant also expects it will continue the dividend growth by 10% until at least 2020.
Considering Enbridge is my biggest holding at the moment this dividend increase will boost my yearly forward dividends by $77.59. Now that is a pretty huge raise for doing absolutely nothing.
National Bank has been absolutely killing it. Unfortunately it’s not one of my biggest holdings but it has increased in value 48% since I purchased them. (not including dividends) Today they released their 4th quarter earnings. Highlights –
National Bank says its net income amounted to $1.39 per diluted share for the quarter ended Oct. 31, up from $307 million or 78 cents per share a year ago.
“The fourth quarter concludes a record year for the Bank in which its net income exceeded $2 billion for the first time,” ceo Louis Vachon said in a statement Friday.
Pretty massive gains and new records being set. Like I said they are tearing it up. Oh yeah that dividend though
They raised it from 58 cents to 60 cents. Payable Feb 1, 2018 This is their 2nd dividend raise this year. At the start of the year their dividend was 56 cents per share so if my math is correct, in total they raised their dividend 7.14% this year. This new raise by National Bank will increase my forward dividends by $2.87. Take it and Run…..
So in conclusion
Today was a Pd day for our son, so I decided to take it off. We played on the trampoline, flew our remote helicopters (broke one, heh) went for a nice hike with the dog, Made my favorite family meal – Soft tacos and to end it all we got a boost of $80.46 to our dividend portfolio. What a great start to the weekend. I hope you got a piece of these raise’s as well!
Dream Bigger……. Cheers!
Ps – You wanted better, so I will be better. I have now joined twitter feel free to follow me and others there. I would appreciate it. The bird for my link is at bottom of the page……. Tweet Tweet?? haha
Hey I’m Rob, creator of Passive Canadian Income.
In 2011 me and my wife had almost $60,000 in debt and a negative $7,000 Net Worth. Through hard work and financial education we paid all that off. Now we are focusing on increasing our Passive Income Streams to make the money work for us. Feel Free to Follow along the Journey by clicking the Social Media links below or subscribing to get notified of new posts on the sidebar.