Thursday, May 6th the Board of Directors of Algonquin Power & Utilities Corp. (AQN) announced a quarterly dividend increase of from $ 0.1551 to $ 0.1706 per share that’s payable July 15, 2021 to holders of record June 30, 2021. This represents a 9.99% increase over the last quarterly dividend.
With current price CA$ 18.83 (yesterday's close), this raise brings their dividend yield to 4.38%.
Algonquin Power & Utilities Corp. is a member of Canadian Dividend All Star List with a 10 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.0, 9.2, 10.0 and 9.7 (Canadian Dividend All-Star List)
Since I own 500 shares of AQN, this will increase my portfolio's projected annual net dividend income by $ 23.10.
This increase was in line with my expectations.
This is the sixth dividend increase I've received from Algonquin Power & Utilities since initiating a position in September 2016. (More here) During this period, the quarterly dividend has risen nicely from $ 0.0963 to $ 0.1706, or 77.2 percent.
This increase raises my YOC to 6.87%.
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 AQN
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