Thursday, February 1, 2024

Dividend Increase - Metro Inc. (TSE:MRU)


Tuesday, January 29th the Board of Directors of Metro Inc. (TSE:MRU) announced a quarterly dividend increase of from C$0.3025 to C$0.335 per share that’s payable March 12, 2024 to holders of record February 15, 2024. This represents a 10.7% increase over the last quarterly dividend.

With current price C$70.59 (yesterday's close), this raise brings their dividend yield to 1.90%.

MRU is a member of Canadian Dividend All Star List with a 30 year streak of dividend increases. Dividend growth rates for 1, 3, 5 and 10 years are 10.0, 10.4, 10.9 and 13.8 (Canadian Dividend All-Star List)

Since I own 55 shares of MRU, this will increase my portfolio's projected annual net dividend income by $3.97.

The increase was in line with my expectations and I gladly accept it.

This is the 3rd dividend increase I've received from Metro Inc. since initiating a position in October 2021. During this period, the dividend has grown nicely from C$0.25 to C$0.335 or 34.0%.

This increase raises my YOC to 2.16%.

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 MRU

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