Recent Dividend Increases

DivGrowthInfo The birth of our baby girl has kept me busy over the past few weeks. As such, I missed capturing the dividend increase announcements. Instead of posting each increase separately, I will capture the increase announcements in a single post here – for the sake of easier documentation.

On April 26, 2016 Wells Fargo & Co (WFC) announced a 1.33% dividend raise. The quarterly dividend increases from $0.375 to $0.38. The new dividend amount is payable Jun 1, 2016 to shareholders on record on May 6, 2016.

On April 26, 2016 Apple Inc (AAPL) announced a 9.62% dividend raise. The quarterly dividend increases from $0.52 to $0.57. The new dividend amount is payable May 12, 2016 to shareholders on record on May 9, 2016.

On April 27, 2016 The Jean Coutu Group (PJC.A.TO) announced a 9.09% dividend raise. The quarterly dividend increases from C$0.11 to C$0.12. The new dividend is payable May 27, 2016 to shareholders on record on May 13, 2016.

On April 28, 2016 Johnson & Johnson (JNJ) announced a 6.67% dividend raise. The quarterly dividend increases from $0.75 to $0.80. The new dividend amount is payable Jun 7, 2016 to shareholders on record on May 24, 2016.

On May 3, 2016 Cineplex Inc (CGX.TO) announced a 3.85% dividend raise. The monthly dividend increases from C$0.13 to C$0.135. The new dividend is effective May and will be paid in June 2016.

On May 12, 2016 Algonquin Power & Utilities Corp (AQN.TO) announced a 9.97% dividend raise. The quarterly dividend increases from US$0.0963 to C$0.1059. The new dividend is payable Jul 15, 2016 to shareholders on record on Jun 30, 2016.

On May 13, 2016 Power Corporation of Canada (POW.TO) announced a 7.63% dividend raise. The quarterly dividend increases from C$0.31125 to C$0.3350. The new dividend is payable Jun 30, 2016 to shareholders on record on Jun 9, 2016.

Be sure to check out Dividend Growth Info for regular weekly updates and follow DivGrowthInfo on Twitter for all dividend growth increase announcements.

Full Disclosure: Long all stocks mentioned above.

Cineplex Inc (CGX.TO) Dividend Increase

Cineplex Inc (CGX.TO) released it quarterly results today and with that announced an increase in its quarterly dividends by 4%. The monthly dividend rises from $0.125 to $0.13. Cineplex has increased dividend every year since it converted into a corporation in 2011. The new dividend amount will be effective May 2015, which will be paid in June 2015.

From the earnings release statement:

Cineplex Q1 2015

Cineplex Q1 2015

“Total revenues increased 3.5% to $289.8 million and adjusted EBITDA increased 30.3% to $40.2 million in the first quarter, primarily due to higher media revenues, higher CPP and lower operating costs,” said Ellis Jacob, President and CEO, Cineplex Entertainment.
“During the quarter, we announced The Rec Room, a social entertainment destination featuring a wide range of gaming, entertainment and dining options; SCENE announced a strategic marketing partnership enabling its members to earn and redeem points at more than 800 CARA restaurants across Canada; and Cineplex Starburst Inc. announced the creation of a new US based venture, Brady Starburst Inc., which formed the second largest distributor of amusement and vending equipment in North America.”

“Overall, it was a successful quarter and looking ahead, I believe the film slate for 2015 looks very strong. I am excited about the strategic opportunities ahead which will continue to diversify our business and help us achieve meaningful growth.”
“Cineplex’s strong balance sheet, continued investment in the enhancement of the exhibition experience and the diversification of our business model positions us well for the future. As such, we are pleased to announce a 4.0% dividend increase to $1.56 per share on an annual basis from the current $1.50 per share. This increase will be effective with the May 2015 dividend which will be paid in June 2015. Cineplex has increased its dividend every year since the company converted to a corporation.”

The annual dividend rises from $1.5 per share to $1.56 per share. My portfolio consists of 40 shares of Cineplex, increasing my dividends from $60 to $62.40, an increase of $2.40.

Cineplex Inc (CGX.TO) Dividend Increase

Cineplex Inc (CGX.TO) announced that it will be raising its dividend by 4.2% from an annual $1.44 per share to $1.50 per share. The dividend increase is effective immediately; and since Cineplex pays its dividends monthly, shareholders will see a hike in dividends starting this month. The new dividend rate results in an annualized yield of 3.74% based on yesterday’s closing price.

Cineplex has increased dividends since it converted from income trust to a corporation in 2011. This marks its 4th consecutive annual increase in dividends. My portfolio consists of 40 shares of Cineplex, which increases my annual dividend raise from $57.60 to $60. My yield-on-cost rises to 4.92%.