Thursday, May 12th the Board of Directors of Algonquin Power & Utilities Corp. (AQN) announced a quarterly dividend increase of from $ 0.1706 to $ 0.1808 per share that’s payable July 15, 2022 to holders of record June 30, 2022. This represents a 5.98% increase over the last quarterly dividend.
With current price C$ 18.47 (yesterday's close), this raise brings their dividend yield to 5.01%.
Algonquin Power & Utilities Corp. is a Dividend Contenders with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.0, 10.0, 10.0 and 9.6 (Dividend Champions.xls)
Since I own 650 shares of AQN, this will increase my portfolio's projected annual net dividend income by $ 19.76.
I was expecting a 5% increase, so this was slightly higher than my expectations.
This is the seventh 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 $ 0.1808, or 87.8 percent.
This increase raises my YOC to 6.82%.
Summary of 2022 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long AQN
Thanks for stopping by!
No comments:
Post a Comment