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
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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