On March 13, 2020, the Office of the Superintendent of Financial Institutions basically said that "dividend increases and share buybacks of federal regulated financial institutions should be halted". The big 5 banks definitely fall into this category.
Prior to this announcement, 4 of the 5 big five banks were raising their dividends semi- annually and the other bank was raising their dividend once a year.
On November 4, 2021, the Office of the Superintendent of Financial Institutions gave the green light for federal regulation financial institutions to raise their dividends and participate in buybacks.
Raise #1
On December 1, Royal Bank of Canada (RY.TO) increased their quarterly dividend from $1.08 to $1.20 per share quarterly, or from $4.32 to $4.80 per share annually. This is an increase of 11.11%.
I currently own 56 shares of RY.TO. This increase adds $26.88 to my annual dividend income.
Raise #2
On December 2, Toronto-Dominion Bank (TD.TO) increased their quarterly dividend from $ 0.79 to $0.89 per share quarterly, or from $3.16 to $3.56 per share annually. This is an increase of 12.66%.
I currently own 62 shares of TD.TO. This increase adds $24.80 to my annual dividend income.
Raise #3
On December 2, Canadian Imperial of Bank of Commerce (CM.TO) increased their quarterly dividend from $1.46 to $1.61 quarterly, or from $5.84 to $6.44 per share annually. This is an increase of 10.28%.
I currently own 110 shares of C.I.B.C. This increase adds $66.00 to my annual dividend income.
Raise #4
On December 3, Bank of Montreal (BMO.TO) increased their quarterly dividend from $1.06 to $ 1.33 per share quarterly, or from $4.24 to $5.32 per share annually. This is an increase of 25.5%.
I currently own 85 shares of Bank of Montreal. This increase adds $91.80 to my annual dividend income.
Raise #5
On December 7, Enbridge (ENB.TO) increased their quarterly dividend from $0.835 to $0.86 per share quarterly, or from $3.34 to $3.44 per share annually. This an increase or 2.99%.
I currently own a total of 359.278 shares of Enbridge. This increase adds $35.93 to my annual dividend income.
Raise #6
On December 8, Mullen Group Ltd. (MTL.TO) increased their monthly dividend from $0.04 to $0.05 per share monthly, or from $0.48 to $0.60 per share annually. This is an increase of 25.0%.
I currently own 100 shares of Mullen Group. This increase adds $12.00 to my annual dividend income.
Summary:
In 8 days, I received a total of 6 dividend increases. All the dividend amounts above are in Canadian dollars.
My forward 12 month dividend income increased by a total of $257.41 in Canadian dollars.
Disclosure: Long all aforementioned stocks
DISCLAIMER
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.
Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.
I am not a financial planner, financial advisor, accountant or tax attorney. The information on this blog represents my own thoughts and opinions and should NOT be taken as investment or business advice.
Every individual should do their due diligence to make their own financial decisions based on their financial situation and tolerance for risk.
wow thats a huge increase over 8 days. Congrats man!
ReplyDeletePassivecanadian,
DeleteThanks. Bank of Nova Scotia increased theirs on November 30, but I included the ones in December for this post.
If I would of counted BNS, that would of been 7 raises in 9 days.
I love dividend raises!