Dividend Increase: North West Company
I’ve added a new category in Financial Jungle called “Dividend Increases”, where I’ll record all dividend raises from my portfolio. Dividend and distribution increases tend to resonate well amongst the dividend investing community, and a constant stream of positive feedbacks should motivate everyone to stay on course.
North West Company is a retailer in rural communities and urban neighbourhoods across Canada, Alaska and now, Hawaii. This income trust recently improved their annual payout from $0.88 to $1.08, or a 22.7% pay raise! This represents a 5.08% yield based on Friday’s closing price of $21.58, or a 7.37% yield based on my purchase price of $14.65.
Who says income trusts are boring and slow growing investments?
