On Tuesday, November 2, the Board of Directors of Main Street Capital Corporation (MAIN) announced a monthly dividend increase from $0.205 to $0.215 per share. The first increased dividend will be paid on January 15, 2022 to holders of record as of January 4, 2022. This represents a 2.38% increase over the last monthly dividend.
In addition to the regular monthly dividends for the first quarter of 2022, the Board of Directors declared a supplemental cash dividend of $0.10 per share payable in December 2021.
With current price $ 43.93 (yesterday's close), this raise brings their dividend yield to 5.87%.
Main Street Capital is a Dividend Contenders with a 11 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.9, 3.2, 3.2 and 5.1 (Dividend Champions.xls)
Since I own 130 shares of MAIN, this will increase my portfolio's projected annual net dividend income by $ 5.81.
This announcement came as a surprise to me as it was in August 2021 that MAIN last announced a dividend increase. However, I am happy to accept this.
This is the third dividend increase I've received from Main Street Capital Corporation since initiating a position in November 2018. During this period, the monthly dividend has risen acceptably from $ 0.195 to $ 0.215, or 10.3 percent.
This increase raises my YOC to 6.76%.
Wednesday, November 3rd the Board of Directors of Emerson Electric Co. (EMR) announced a quarterly dividend increase of from $ 0.505 to $ 0.515 per share that’s payable December 10, 2021 to holders of record November 12, 2021. This represents a 1.98% increase over the last quarterly dividend.
With current price $ 97.16 (yesterday's close), this raise brings their dividend yield to 2.12%.
Emerson is a Dividend Champions with a 65 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.8, 1.4, 1.2 and 4.0 (Dividend Champions.xls)
Since I own 60 shares of EMR, this will increase my portfolio's projected annual net dividend income by $ 1.79.
The increase was in line with my expectations, or actually, I would admit that I was pleasantly surprised by the size of the increase! An increase of half a cent would also have been ok.
This is the seventh dividend increase I've received from Emerson since initiating a position in July 2015. During this period, the quarterly dividend has risen poorly from $ 0.47 to $ 0.515, or 9.57 percent.
This increase raises my YOC to 3.85%.
Summary of 2021 Dividend Increases / Cuts
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You can follow the development of my dividends here.
Full Disclosure: Long MAIN, EMR
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