Friday, February 5, 2021

Dividend Increase #14 & #15 of 2021 - BCE & BEP

 


Thursday, February 4th the Board of Directors of BCE Inc. (BCE) announced a quarterly dividend increase of from CA$ 0.8325 to CA$ 0.875 per share that’s payable April 15, 2021 to holders of record March 15, 2021. This represents a 5.11% increase over the last quarterly dividend.

 

"Today, BCE is proud to announce a significant acceleration in network capital investment to support Canada's recovery from the social and economic impacts of COVID-19 alongside a 5.1% increase in our common share dividend. These initiatives reflect our commitment to lead the buildout of Canada's next-generation digital infrastructure while also delivering increased dividend returns to the shareholders who have invested in Bell's strategy of broadband innovation and growth," said Mirko Bibic, President and CEO of BCE and Bell Canada.

 

With current price CA$ 56.05 (yesterday's close), this raise brings their dividend yield to 6.24%.

 

BCE Inc. is a member of Canadian Dividend All Star List with a 12 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.0, 5.1, 5.1 and 6.4 (Canadian Dividend All-Star List)

 

 

Since I own 115 shares of BCE, this will increase my portfolio's projected annual net dividend income by CA$ 140.56.

 

The increase was in line with my expectation.

 

This is the 4th dividend increase I've received from BCE since initiating a position in September 2017. Total dividend growth over that time is reasonable at 22.0%.

 

This increase raises my YOC to 6.20%.

 

 


Thursday, February 4th the Board of Directors of Brookfield Renewable (BEP) announced a quarterly dividend increase of from $ 0.289 to $ 0.3038 per share that’s payable March 31, 2021 to holders of record February 26, 2021. This represents a 5.12% increase over the last quarterly dividend. In conjunction with the Partnership’s distribution declaration, the Board of Directors of BEPC has declared an equivalent quarterly dividend of $0.3038 per share.

 

With current price $ 46.28 (yesterday's close), this raise brings their dividend yield to 2.63%.

 

BEP is a Dividend Contenders with an 11 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.3, 5.1, 5.5 and 5.3 (Dividend Champions.xls)

 

 

Since I own 188 shares of Brookfield Infrastructure, this will increase my portfolio's projected annual net dividend income by $ 8.29.

 

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

 

This is the second dividend increase I've received from Brookfield Infrastructure since initiating a position in February 2019. At that time, the total increase in dividends was moderate 10.6%.

 

This increase raises my YOC to 6.26%.

 

 

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 BCE, BEP, BEPC

 

Thanks for stopping by!

 

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