Thursday, January 29, 2009

TransAlta Increases Dividends, Pfizer Cuts

TransAlta has just released their Q4 results and announced a 7% increase of their dividends, from $1.08 to $1.16 annually. This is another company that I own in my DRiP portfolio, so this is good news for me. It's alway nice when I get a pay raise, even if this will have a minimal impact on my 2009 dividend income (about $1). The point is that the dividend is growing, and will probably keep growing in the future.

However, another company that I own and DRiP, Pfizer, announced earlier this week that it was buying Wyeth and cutting its dividend by 50%. Normally a cut like that would hurt, but my position in Pfizer is so small (3 shares) that it will have very little impact (about $1.30) on my overall dividend income. I don't plan on selling that position, but I will wait and see how the merger goes before I put any more money into the company.

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