From BCE.ca:
MONTRÉAL, December 8, 2011 – BCE Inc. (TSX, NYSE: BCE) today announced a 5% increase in its annual common share dividend from $2.07 to $2.17 per share for 2012, and plans for the use of its year-end 2011 surplus cash balance that include a Normal Course Issuer Bid (NCIB) program for up to $250 million and a $750 million voluntary prepayment in December 2011 to Bell Canada's defined benefit pension plan to reduce its future pension obligation.
Just when I thought December couldn't get any better! With a second dividend increase to my portfolio this month, I couldn't be happier. My original purchase price for BCE was $27.84 with a yield of 6.5%. After the 5% dividend increase along with a few others in between, my original investment is now paying me 7.8%.
A lot of my friends and co-workers don't understand why I get so excited every time there is a dividend increase within my portfolio. The way I see it, each increase brings me one step closer to an early retirement so why wouldn't I be happy about it! The only downfall from all this is that I never purchased more of BCE while the price was right. I have enrolled in a drip for BCE and plan to make a new contribution to my TFSA in the new year and use that money to grab some more shares when the price is right.
Do you own shares in BCE?
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6 comments:
Definitely excited about the dividend increases this week (BCE and ENB for my portfolio). The yield on cost for my BCE shares is 9%.
BCE has been my first and best stock purchase. I bought in Oct 2010, for 33.39, and again last May for 37ish. I also own Enbridge and hope to add more Enbridge to my portfolio if the price is right, although from the looks of it, their stock just keeps going higher and higher.
@Echo: You must have bought in when Bell went through the toilet because of the pension curfluffal.
@Kyle: I wish I bought more Bell when the price was perfect. If it ever slips to 38ish I'll be buying more.
As for Enbridge, It might be a while before it'd priced right. I bought more just after the split when it was yielding 3.5%, just like when I made my initial purchase.
I bought a good bunch at just over $22 right after the teacher's deal fell through. The current yield on those shares is 9.8%. Wish I'd bought more!
I think everyone wishes they could have bought more Cntrydad!
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