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.

Wells Fargo Dividend Increase

Wells Fargo & Co (WFC) announced today that the Federal Reserve Board (FRB) has not objected to the company’s 2015 Capital Plan under the recently concluded Comprehensive Capital Analysis and Review (CCAR) of the nation’s largest banks. Wells Fargo proposed raising the dividend by 7.1% from the quarterly $0.35 to $0.375 per share, subject to consideration and approval by its Board of Directors at its regularly scheduled meeting in April.

From the press release statement:

We are pleased to receive the Federal Reserve Board’s non-objection to our capital plan to increase our common stock dividend and continue our strong share repurchase activity,” said Chairman and CEO John Stumpf. “This result again demonstrates the benefit of our diversified business model and conservative risk discipline, which have positioned us well to return capital to shareholders within our targeted range while maintaining strong capital levels.

My portfolio consists of 41 shares of WFC and increases my annual dividend from $57.40 to $61.50, an increase of $4.10.

Further reading: I just completed a dividend stock analysis of Wells Fargo earlier this week and the stock appears under-to-fairly valued. Click here to read the details.

Wells Fargo: Bank On America’s Bright Future

Wells Fargo & Co. (WFC) is a household name in the United States, and is one of the largest banks in the world. The company is a nationwide diversified financial services company with $1.7T in assets. Founded in 1852, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance services through more than 8,700 locations, more than 12,500 ATMs, online, and mobile devices. Wells Fargo was rated as the 8th biggest public company in the world by Forbes in 2014, and 29th biggest company by revenue in the U.S. by Fortune Magazine. The company went through financial stress during the recent financial crisis. However, it came out on top and now holds the #1 spot as America’s largest retail mortgage lender and servicer. It is the largest holding of Berkshire Hathaway, which owns 9% of the company and continues to be a great performer. The company is currently fairly valued with most valuations pointing to a stable outlook.

Continue reading here >

Wells Fargo & Co (WFC) Dividend Increase

Wells Fargo & Co (WFC) announced a proposal to increase its dividend by 16.7% – from  a quarterly cash dividend of $0.30 to $0.35 per share. The increase in dividends is subject to approval from the board of directors in April and will be effective second quarter of this year. When approved, this will be the fourth consecutive increase since 2009. The proposal also includes a plan to increase its common stock repurchase activity with an increase of 350M additional shares in the company’s authority to repurchase.

Annually, the dividends rise from $1.20 to $1.40 per share. My portfolio consists of 41 shares of WFC, which increases my annual dividends from $49.20 to $57.40. My yield-on-cost rises to 3.52% with this dividend increase.