WestRock Increases Their Dividend by 4.2% in 2021

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Dividend Increase Announcement

On October 28th, WestRock announced a dividend increase of 4.2%. This will increase their dividend per quarter from $0.24 to $0.25. It is payable on November 23rd for shareholders of record on November 10th. The new quarterly dividend represents an annualized dividend amount of $1.00 per share as compared to the current annualized dividend amount of $0.96 per share.

WestRock Dividend Information

Annual Dividend: $1.00
Dividend Yield: 2.1%
Dividend Growth History: 2 years

Dividend Increase Effect

I am currently holding 16.6 shares of WestRock in the More Dividends portfolio. With this 4.2% increase it will add an additional $0.67 to my projected annual dividend income and this doesn’t even take into account the compounding factor!

Current Stock Position

WestRock2021 Stock Position on More Dividends

As we can see here from the current stock position, it is not a rather large position since it only takes up 1.5% of the portfolio. I wish that I had built a larger position before the share price went up so much. The business tends to be cyclical so I will wait until the share price comes back down closer to my cost basis.

With the current dividend yield being around 2% there is still plenty of room to grow that dividend. The company had cut their dividend last year during the pandemic so I would love to see that dividend amount get back up there.

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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