Dividend Increase!
Just a quick post today, but one of the reasons I invest in dividend paying investments has happened today - a dividend increase of 5% (from $0.61 per share to $0.64 per share) from the Royal Bank of Canada. The entire article can be seen here. I will now be earning a total of $237.80 in dividends from the Royal Bank. A happy day in dividend investing land as the power of compounding shows its magic. The chart below shows my dividends that I will receive per year from all my investments:
To make things even more fun, I just checked my account and the Royal Bank just deposited a dividend payment of $56.66. This money will be reinvested into more Royal Bank stock on the next dividend reinvestment date with Canadian Shareowners Association.
posted by My Personal Hedge Fund at 8/26/2005 12:04:00 PM
3 Comments:
Wish I had bought Royal Bank when it was trading around $60 earlier this year. Frankly, I am really surprised that they turned around their results so quickly. Shows the folly of forecasting, eh?
Yes it has been a good ride. I have been very impressed with management and their focus on turning the U.S. side of the business around.
I am going to be looking at BNS in the near future (as well as the other Canadian banks) because I would like to potentially add one more to my portfolio. I will post my results when I do.
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