Two more of the companies I own in my DRiP portfolio raised their dividend this week.
First, Fortis Inc. (Toronto: FTS) increased its dividend 3.5% from $0.28 to $0.29 per quarter. This is a small increase, but the company is in the power generation business, and in a recession less power is consumed as businesses decrease their products output and thus their energy consumption.
Second, Pfizer (NYSE: PFE) just announced this morning that it was raising its dividend 11% from $0.18 to $0.20 per quarter.
These will have only a small impact individually, but they do add up. :o)