Dividend Increase Announcement
On September 13th, Store Capital announced a dividend increase of 6.9%. This will increase their dividend per quarter from $0.36 to $0.385. It is payable on October 15th for shareholders of record on September 30th. The new quarterly dividend represents an annualized dividend amount of $1.54 per share as compared to the current annualized dividend amount of $1.44 per share.
Store Capital Dividend Information
Annual Dividend: $1.54
Dividend Yield: 4.52%
Dividend Growth History: 6 years
Dividend Increase Effect On More Dividends
I am currently holding 37.58 shares of Store Capital in the More Dividends portfolio. With this 6.9% increase it will add an additional $3.75 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
Store Capital has been in this portfolio for a couple of years now. They have consistently been increasing their dividend every year.
At one point, during the peak of the pandemic I had considered adding onto this position but because of the uncertainty of the companies ability to pay their dividend if more tenants had defaulted on their monthly payments I decided not to. With such a nice increase I am kind of regretting that now!
Given that the share price is relatively close to my cost basis it would be worth looking into if it would be advantageous to add to this position.
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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