Big announcement for our dividend portfolio and overall passive income stream today as Enbridge has done us a huge favour and raised the dividend (yet again) by 10% this year.
The dividend payable per share will go from $0.738 per quarter in 2019 to $0.81 per quarter moving forward.
Given their track record of raising dividends year over year we have no reason to believe that these dividend raises will stop moving forward.
The effect on our income
Before increase: 285 shares x $0.738/share x 4 quarters per year = $841.32 per year
After increase: 285 shares x $0.81/share x 4 quarters per year = $923.40 per year
The gain: $923.40 – $841.32 = $82.08 per year
There you have it, we’re now getting an additional $82.08 per year in passive income for doing absolutely nothing! And again, these gains should come in year over year just as they have since we first purchased our shares in Enbridge back in 2017.
This is why we got into dividend growth investing in the first place and why we continue to choose this as our path to becoming financially independent and ultimately reaching early retirement (if we so choose).
Thanks for taking the time to read today, if you have any questions or comments leave them below or over on Instagram @FindependenceCanada and we’ll be sure to get back to you.
FIC.