Dividend Increase Announcement
On April 19th, The Travelers Company announced a dividend increase of 7.5%. This will increase their dividend from $0.93 to $1.00. It is payable on June 30th for shareholders of record on June 9th. The new dividend represents an annualized dividend amount of $4.00 per share as compared to the previous annualized dividend amount of $3.72 per share.
The Travelers Company Dividend Information
Annual Dividend: $4.00
Dividend Growth History: 21 years
Dividend Yield: 2.33%
Dividend Increase Effect
I am currently holding 6.099 shares of The Travelers Company stock in the More Dividends portfolio. With this 7.5% increase it will add an additional $1.71 to my projected annual dividend income and this doesn’t even take into account the compounding factor! That brings the new grand total up to $2,558.25
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Current Stock Position
The Travelers Company is a relatively new position in my portfolio. I wanted to expand more into the Insurance industry and at the time the two best companies that I could find was The Travelers Company and Metlife.
This position has been great so far. The share price has continued to go up since I started the position. Normally, it is one of my firm rules that I don’t buy stock if the share price is higher than my cost basis but currently I am contemplating breaking that rule.
Along with this 7.5% dividend increase, the board of directors also authorized a $5 billion dollar share repurchase program. This goes on top of the $1 billion that is still left from the previous repurchase. With that being said, I anticipate that the share price will continue to move up so it may be smart to go ahead and add to this position.
I am not a 100% decided yet but I will give this idea some more thought.
With all of that being said, always remember that moves that I am making in my portfolio may not always be good for your portfolio. So don’t just pay attention to what I am doing but also pay attention to why I am doing it.
I will give this idea some more thought and decide if I think that it will be a good move for my portfolio.
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 The Travelers Company? 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
Recent Dividend Increases in Portfolio
P&G has a 3% Dividend Increase in 2023
Southern Company has a 2.9% Dividend Increase in 2023
Johnson & Johnson has a 5.3% Dividend Increase in 2023
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