Wednesday, February 3, 2021

Dividend Increase #10 & #11 of 2021 - MMM & BIP

 
 


Tuesday, February 2nd the Board of Directors of 3M Company (MMM) announced a quarterly dividend increase of from $ 1.47 to $ 1.48 per share that’s payable March 12, 2021 to holders of record February 12, 2021. This represents a 0.68% increase over the last quarterly dividend.

 

This marks the 63rd consecutive year 3M has increased its dividend. 3M has paid dividends to its shareholders without interruption for more than 100 years. As of December 31, 2020, 3M had 577,749,638 common shares outstanding.

 

With current price $ 175.02 (yesterday's close), this raise brings their dividend yield to 3.38%.

 

MMM is a Dividend Champions with a 63 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.1, 7.8, 7.5 and 10.8 (Dividend Champions.xls)

 

 

Since I own 20 shares of MMM, this will increase my portfolio's projected annual net dividend income by $ 0.60.

 

This dividend increase was a clear disappointment, my expectations were not high, but I expected an increase of at least about 3 percent. In any case, a raise is always a raise!

 

This is the 3rd dividend increase I've received from 3M Company since initiating a position in April 2018. Total dividend growth over that time is very poor at 8.8%.

 

This increase raises my YOC to 4.22%.

 

 


Wednesday, February 3rd the Board of Directors of Brookfield Infrastructure (BIP) announced a quarterly dividend increase of from $ 0.485 to $ 0.51 per share that’s payable March 31, 2021 to holders of record February 26, 2021. This represents a 5.15% increase over the last quarterly dividend. In conjunction with the Partnership’s distribution declaration, the Board of Directors of BIPC has declared an equivalent quarterly dividend of $0.51 per share.

 

With current price $ 53.67 (yesterday's close), this raise brings their dividend yield to 3.80%.

 

BIP is a Dividend Champions with a 13 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.2, 7.4, 8.8 and 11.4 (Dividend Champions.xls)

 

 

Since I own 106 shares of Brookfield Infrastructure, this will increase my portfolio's projected annual net dividend income by $ 7.90.

 

The increase was in line with my expectations, as Brookfield Infrastructure's dividend increase target is 5-9% per annum.

 

This is the 3rd dividend increase I've received from Brookfield Infrastructure since initiating a position in October 2018. At that time, the total increase in dividends was moderate 20.6%.

 

This increase raises my YOC to 4.32%.

 

 

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 MMM, BIP, BIPC

 

Thanks for stopping by!

 

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