One of my DRiP holdings, Telus Corp (Toronto: T and T.A), has announced yesterday that the company was increasing its quarterly dividend to $0.50 (up 5.3% from the previous $0.475).
This is a surprise, as the company had failed to increase its dividend in November. But a nice surprise it is. This brings the yield on non-voting shares (T.A) to 5.5%, which is quite high. There is still a lot of uncertainty in the telecom sector, as the impact of new entrants in the market is a big unknown.
I'm not the only one to have been pleasantly surprised by the move -- the shares have jumped 4% on the news this morning.