Friday, December 3, 2021

Dividend Increase #83 & #84 of 2021

 

The Toronto-Dominion Bank (TD)

 


Yesterday, December 2nd the Board of Directors of The Toronto-Dominion Bank (TD) announced a quarterly dividend increase of from CA$ 0.79 to CA$ 0.89 per share that’s payable January 30, 2022 to holders of record January 10, 2022. This represents a 12.7% increase over the last quarterly dividend.

 

With current price CA$ 96.18 (today's open), this raise brings their dividend yield to 3.70%.

 

TD Bank is a member of Canadian Dividend All Star List with an 11 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.6, 9.8, 9.2 and 9.8 (Canadian Dividend All-Star List)

 

 

Since I own 180 shares of TD, this will increase my portfolio's projected annual net dividend income by $ 41.84.

 

Due to the pandemic, dividend increases were forbidden, so now that they are possible again, an increase was expected. I was expecting an increase of around 7% per year, so the size of the increase was a slight disappointment.

 

This is the seventh dividend increase I received from TD since initiating a position in September 2014. During this period, the quarterly dividend has risen very nicely from $0.47 to $0.89, or 89.36%

 

This increase raises my YOC to 6.54%.

 

 

 

Canadian Imperial Bank of Commerce (CM)

 


Yesterday, December 2nd the Board of Directors of Canadian Imperial Bank of Commerce (CM) announced a quarterly dividend increase of from CA$ 1.46 to CA$ 1.61 per share that’s payable January 28, 2022 to holders of record December 29, 2022. This represents a 10.3% increase over the last quarterly dividend.

 

With current price CA$ 138.85 (today's open), this raise brings their dividend yield to 4.64%.

 

CM is a member of Canadian Dividend All Star List with an 11 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 2.8, 4.3, 5.7 and 5.3 (Canadian Dividend All-Star List)

 

 

Since I own 50 shares of CM, this will increase my portfolio's projected annual net dividend income by $ 17.44.

 

Due to the pandemic, dividend increases were forbidden, so now that they are possible again, an increase was expected. I was expecting an increase of around 5% per year, so the size of the increase was in line with my expectations.

 

This is the second dividend increase I received from CM since initiating a position in December 2018. During this period, the quarterly dividend has risen moderately from $1.40 to $1.61, or 15.0%

 

This increase raises my YOC to 8.45%.

 

 

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 TD and CM

 

Thanks for stopping by!

 

1 comment:

  1. Once again thanks for keeping track. I own both, and has recently added to my positions. These raises around 11% are extremely appreciated as a dividend investor. Thank you for adding Northernlightsinvestment to your blog list !!

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