WestRock Increases Their Dividend 2.2%
Dividend Increase Announcement
On November 7th, WestRock announced a dividend increase of 2.2%. This will increase their dividend per quarter from $0.45 to $0.465. It is payable on December 3rd for shareholders of record on November 19th. The new quarterly dividend represents an annualized dividend amount of $1.86 per share as compared to the current annualized dividend amount of $1.82 per share.
WestRock Dividend Information
Annual Dividend: $1.86
Dividend Yield: 4.72%
Dividend Growth History: 3 years
Payout Ratio: 46.73%
Dividend Increase Affect On More Dividends
I am currently holding 15.69 shares of WestRock in the More Dividends portfolio. With this 2.2% increase it will add an additional $0.62 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
WestRock is a great company. I will agree that it is an old boring company but thus far they have been committed to returning value to their shareholders.
For sometime now the companies share price has dropped down around my cost basis. Unfortunately, I already have a very large position built outside of the More Dividends portfolio so I am not looking to add to this position at the time being.
In the foreseeable future I intend to just sit back and let the dividends continue to compound on this one. It would take some very significant circumstances for me to change my point of view on this one but I am not totally against the idea. Only time will tell!
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 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!
-Jason from MoreDividends.com
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