Tuesday, January 23rd the Board of Directors of Canadian National Railway Company (CNR) announced a quarterly dividend increase of from C$0.79 to C$0.845 per share that’s payable March 28, 2024 to holders of record March 7, 2024. This represents a 6.96% increase over the last quarterly dividend.
In addition, CNR has approved the repurchase of its shares under a new normal course issuer bid (Bid). The Bid permits CN to purchase, for cancellation, over a 12-month period up to 32 million common shares, representing 5.63% of the 568,002,080 common shares issued and outstanding of the Company not held by insiders on January 18, 2024.
This is the 28th consecutive year of dividend increases.
With current price C$169.44 (yesterday's close), this raise brings their dividend yield to 1.99%.
CNR is a member of Canadian Dividend All Star List with a 28 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 7.8, 11.2, 11.7 and 13.9 (Canadian Dividend All-Star List)
Since I own 20 shares of CNR, this will increase my portfolio's projected annual net dividend income by $2.43.
I was expecting an increase of around 5%, so this was was a little bit more and I'm happy to take it.
This is the third dividend increase I've received from Canadian National Railway Company since initiating a position in December 2021. During this period, the dividend has risen very nicely from C$0.615 to C$0.845, or 37.4%.
This increase raises my yield on cost to 2.19%.
Wednesday, January 24th the Board of Directors of Kimberly-Clark Corporation (KMB) announced a quarterly dividend increase of from $1.18 to $1.22 per share that’s payable April 2, 2024 to holders of record March 8, 2024. This represents a 3.4% increase over the last quarterly dividend.
This represents the 52nd consecutive year that the company has increased its dividend to shareholders.
With current price $124.95 (yesterday's close), this raise brings their dividend yield to 3.91%.
KMB is a Dividend Champions with a 52 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 1.7, 3.5, 3.4 and 4.5 (Dividend Champions.xls)
Since I own 13 shares of KMB, this will increase my portfolio's projected annual net dividend income by $1.55.
This increase was in line with my expectations.
This is the 6th dividend increase I've received from Kimberly-Clark Corporation since initiating a position in February 2018. During this period, the dividend has increased by a modest 22% from $1.00 to $1.22.
This increase raises my yield on cost to 4.54%.
Summary of 2024 Dividend Increases / Cuts
Click here to see my portfolio holdings.
You can follow the development of my dividends here.
Full Disclosure: Long CNR and KMB
Thanks for stopping by!
No comments:
Post a Comment