Dividend Increase Announcement
On May 5th, WestRock announced a dividend increase of 20%. This will increase their dividend per quarter from $0.20 to $0.24. It is payable on May 28th for shareholders of record on May 19th. The new quarterly dividend represents an annualized dividend amount of $0.96 per share as compared to the current annualized dividend amount of $0.80 per share.
WestRock Dividend Information
Annual Dividend: $.96
Dividend Yield: 1.66%
Dividend Growth History: 1 year
Dividend Increase Affect On More Dividends
I am currently holding 16.451 shares of WestRock in the More Dividends portfolio. With this 20% increase it will add an additional $2.63 to my projected annual dividend income and this doesn’t even take into account the compounding factor!
WestRock is a great company. I have been holding this position for several years now. I originally started this position when the company originally merged RockTenn with MeadWestVaco.
Since then, I have not been able to add any shares in the More Dividends portfolio. Luckily for me though, I have a stash of Westrock shares that I hold somewhere else.
So I am very pleased with this increase, with only a 27% payout ratio they should have the dividend back where it was in no time.
Until then, I will just sit back and collect the dividends and let them compound.
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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