Thursday, February 25, 2021

Dividend Increase #27 & #28 of 2021 - TRP & MGA

 


Thursday, February 18th the Board of Directors of TC Energy Corporation (TRP) announced a quarterly dividend increase of from CA$ 0.81 to CA$ 0.87 per share that’s payable April 30, 2021 to holders of record March 30, 2021. This represents a 7.41% increase over the last quarterly dividend.

 

With current price CA$ 56.16 (yesterday's close), this raise brings their dividend yield to 6.20%.

 

TC Energy is a member of Canadian Dividend All Star List with a 21 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 8.0, 9.0, 9.3 and 7.3 (Canadian Dividend All-Star List)

 

 

Since I own 50 shares of TRP, this will increase my portfolio's projected annual net dividend income by CA$ 8.94.

 

This increase was in line with my expectations.

 

This is the first dividend increase I've received from TRP since initiating a position in February this year. (More here)

 

This increase raises my YOC to 6.30%.

 

 

 

 


Friday, February 19th the Board of Directors of Magna International Inc. (MGA) announced a quarterly dividend increase of from $ 0.40 to $ 0.43 per share that’s payable March 19, 2021 to holders of record March 5, 2021. This represents a 7.50% increase over the last quarterly dividend.

 

With current price $ 86.82 (yesterday's close), this raise brings their dividend yield to 1.98%.

 

Magna 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 9.6, 13.3, 12.7 and 22.5 (Canadian Dividend All-Star List)

 

 

Since I own 100 shares of MGA, this will increase my portfolio's projected annual net dividend income by $ 8.94.

 

This increase was a pleasant surprise. Taking into account a difficult situation, (a pandemic) I waited about four per cent increase.

 

This is the fifth dividend increase I've received from Magna since initiating a position in June 2016. (More here) During this period, the quarterly dividend has risen nicely from $ 0.25 to $ 0.43, or 72 percent.

 

This increase raises my YOC to 4.08%.

 

 

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 TRP, MGA

 

Thanks for stopping by!

 

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