Friday, January 15, 2021

Dividend Increase #1 of 2021 - Canadian Utilities Limited (TSX: CU)


Yesterday, January 14 the Board of Directors of Canadian Utilities Limited (TSX: CU) announced a quarterly dividend increase of from CA$ 0.4354 to CA$ 0.4398 per share that’s payable March 1, 2021 to holders of record February 4, 2021. This represents a 1.0% increase over last quarterly dividend.


With current price CA$ 31.49 (yesterday's close), this raise brings their dividend yield to 5.59%.


Canadian Utilities is a member of Canadian Dividend All Star List with a 49 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 3.0, 6.8, 8.1 and 8.7 (Canadian Dividend All-Star List)



Since I own 150 shares of CU, this will increase my portfolio's projected annual net dividend income by CA$ 1.97.


I was waiting for 3% as last year, so this was a little disappointment anyway a raise is always a raise.


This is the 3rd dividend increase I've received from Canadian Utilities since initiating a position in January 2018.  Total dividend growth over that time is a moderately bad 11.8%.


This increase raises my YOC to 5.33%.



Summary of 2021 Dividend Increases / Cuts



Click here to see my portfolio holdings.


You can follow the development of my dividends here.


Full Disclosure: Long TSX: CU


Thanks for stopping by!


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