Thursday, February 2nd the Board of Directors of BCE Inc. (BCE) announced a quarterly dividend increase of from C$0.92 to C$0.9675 per share that’s payable April 17, 2023 to holders of record March 15, 2023. This represents a 5.16% increase over the last quarterly dividend.
With current price $ 61.12 (yesterday's close), this raise brings their dividend yield to 6.33%.
BCE Inc. is a member of Canadian Dividend All Star List with a 14 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 5.1, 5.1, 5.1 and 5.2 (Canadian Dividend All-Star List)
Since I own 115 shares of BCE, this will increase my portfolio's projected annual net dividend income by C$16.28.
The increase was in line with my expectations and I’m happy to take it.
This is the 6th dividend increase I've received from BCE since initiating a position in September 2017. During this period, the dividend has grown reasonably from C$0.718 to C$0.9675 or 34.8%.
This increase raises my YOC to 6.85%.
Summary of 2023 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long BCE
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