Dividend Increase Announcement
On October 27th, WestRock announced a dividend increase of 10%. This will increase their dividend from $0.25 to $0.275. It is payable on November 23rd for shareholders of record on November 10th. The new dividend represents an annualized dividend amount of $1.10 per share as compared to the current annualized dividend amount of $1.00 per share.
WestRock Dividend Information
Annual Dividend: $1.10
Dividend Growth History: 2 years
Dividend Yield: 3.21%
Dividend Increase Effect
I am currently holding 16.968 shares of WestRock stock in the More Dividends portfolio. With this 10% increase it will add an additional $1.70 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 $2,313.55.
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Current Stock Position
WestRock has been in my portfolio for many years now. I have held this small position while also maintaining positions in other portfolios.
I absolutely love the company.
I have always looked at a material company like WestRock to be a good indicator of the economy. So while, I would like to add to this position, I am not sure that right now is the best time. I will be looking for a good buying opportunity in the future though.
Until then, I will continue to benefit from holding a small position in this company because with a payout ratio of only 25%, I believe this company will be able to handle a recession and still be able to increase their dividend for years.
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
Recent Dividend Increases in Portfolio
Store Capital Increases Their Dividend by 6.5% in 2022
Microsoft Increases Their Dividend by 10% in 2022
Lockheed Martin Increases Their Dividend by 7.1% in 2022
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