I am starting to get used to all of these dividend increases within our non-registered portfolio. After announcing strong earnings that beat expectations, Canadian clothing retailer Reitmans (RET.A) also declared an 11% dividend increase. I have held shares in Reitmans since December of 2007, which was just after their last dividend increase. It is nice to see them break the dry spell as their earnings have perked up again after the financial crisis.
I initiated my position in Reitmans as mentioned in December of 2007, just after their dividend raise to $0.18 per share. I bought the shares at $18.18. I also added during January of 2008 when I felt that the shares were dirt cheap at $15.57. In November of 2008 I also added some more shares at $12.00 as the credit crisis struck. I was a bit early as the shares did trade down to a ridiculous $8.61 the next month. Overall my adjusted cost base on the stock is $15.07. The shares currently trade at $18.27 and yield 4.4%.