On October 27th, Westrock announced a dividend increase of 7.5%. This will increase their dividend from $0.40 to $0.43. This dividend is payable on Nov 20th for shareholders of record on November 20th.
It is always great news when you find out that one of the companies that you own has decided to increase its dividend. Westrock is a great company that I bought at a great time. At the time I opened a small position and knew that there was an opportunity for share price appreciation. That was in March of 2016 and it has doubled since then. Shortly after I bought Westrock, they spun another company off and that company was called Ingevity. Since then I have held the shares but I do not include them in the More Dividends Portfolio.
Luckily when you invest in good companies they will increase their dividend so that they continue to increase returns for the shareholders. While Westrock as a whole is a young company I do believe that they will be increasing their dividends for many years to come. With this increase it will add an additional $0.44 to my quarterly dividend and will add $1.76 to my projected annual dividend income.
Westrock continues to prove itself to be a great investment for me thus far. It has shown me a spin off company that has shown great gains, it has shown me great appreciation in value while also increasing its dividend. I will continue to hold this position until I see a big shift in my feelings toward the company.
Do you currently hold any stock in Westrock? What do you think of this dividend increase? Just let me know in the comments.
As always I look forward to reading all of your comments and questions, until then….. happy investing!
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