Dividend Increase Announcement
On September 15th, Store Capital announced a dividend increase of 2.9%. This will increase their dividend per quarter from $0.35 to $0.36. It is payable on October 15th for shareholders of record on September 30th. The new quarterly dividend represents an annualized dividend amount of $1.44 per share as compared to the current annualized dividend amount of $1.40 per share.
Store Capital Dividend Information
Annual Dividend: $1.44
Dividend Yield: 5.067%
Dividend Growth History: 5 years
Dividend Increase Effect On More Dividends
I am currently holding 22.914 shares of Store Capital in the More Dividends portfolio. With this 2.9% increase it will add an additional $0.92 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Store Capital is a good company that I have been holding for a couple of years now. Yesterday, they continued their streak of increasing their dividend. This is great news for me since I choose to reinvest all of my dividends that the company pays me.
This is one of my smaller positions that I hold and I regret that I didn’t change that earlier in the year. When the pandemic began earlier this year, Store Capital was one of the positions that I had considered adding to. I ended up not adding to it because I was not super familiar with a lot of the tenants that rent their properties. Because of this uncertainty, I didn’t build onto this position and I have regretted it since.
Hopefully I will get another opporunity in the future.
Regardless of how large or small, I love all dividend increases. That is how we end up with More Dividends 😉
Do you currently hold any stock in Store Capital? 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!
-Jason from MoreDividends.com
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