The Globe and Mail reports in its Saturday edition that for dividend investors, it has been a banner month. The Globe's John Heinzl writes that since Feb. 1, six of the 19 companies in his model Yield Hog Dividend Growth Portfolio have raised their payouts to shareholders. Manulife Financial boosted its dividend by 11 per cent, Brookfield Infrastructure Partners by 6 per cent, BCE by 5.2 per cent, TC Energy by 3.3 per cent, Restaurant Brands International by 1.8 per cent and Choice Properties REIT by 1.3 per cent.
Choice announced the increase along with solid fourth quarter results, which benefited from strong grocery-anchored retail centres, higher rents in its industrial portfolio and contributions from its growing residential and mixed-use developments.
Hopefully, Choice is returning to its previous pattern of annual distribution hikes. In isolation, these increases appear modest. However, over time, they add up to substantial income growth.
Including the February increases, Mr. Heinzl's model dividend portfolio is now churning out about $6,915 of dividend income annually, up almost 69 per cent from annual income of $4,094 when the portfolio was started on Oct. 1, 2017, with $100,000 of virtual money.
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