Dividend investing is one of the best ways to beat the market and build wealth in the long term, and this investment strategy generates the highest returns when you own stocks that consistently grow their payouts over time. With this in mind, let’s take a look at three companies that raised their payouts in the last week and have active streaks of annual increases, so you can determine if you should buy one of them today.
1. CI Financial Corp.
CI Financial Corp. (TSX:CIX) is one of the largest wealth management firms and investment fund companies in Canada with over $143 billion in assets under management and advisement.
In its first-quarter earnings report on May 5, it announced a 4.5% increase to its dividend to $0.115 per share monthly, or $1.38 per share annually, and this gives its stock a yield of about 5.1% at today’s levels.
Investors must also note that CI Financial has raised its annual dividend payment for six consecutive years, and its two hikes since the start of 2015, including the one noted above and its 4.8% hike in June 2015, have it on pace for 2016 to mark the seventh consecutive year with an increase.
2. Pattern Energy Group Inc.
Pattern Energy Group Inc. (TSX:PEG)(NASDAQ:PEGI) is one of the largest independent generators of wind power in the world with ownership interests in 16 facilities across the United States, Canada, and Chili.
In its first-quarter earnings report on May 9, it announced a 2.4% increase to its dividend to US$0.39 per share quarterly, or US$1.56 per share annually, and this gives its stock a yield of about 7.6% at today’s levels.
Investors must also make two important notes.
First, Pattern Energy has raised its dividend for nine consecutive quarters.
Second, its numerous dividend hikes have the company on pace for 2016 to mark the third consecutive year in which it has raised its annual dividend payment.
3. George Weston Limited
George Weston Limited (TSX:WN) is the largest food processor and distributor in Canada, and it’s the company behind Loblaw Companies Limited, Weston Foods, and Choice Properties Real Est Invstmnt Trst.
In its first-quarter earnings report on May 10, it announced a 3.5% increase to its dividend to $0.44 per share quarterly, or $1.76 per share annually, and this gives its stock a yield of about 1.6% at today’s levels.
A 1.6% yield may not impress you at first, but investors must also note that George Weston has raised its annual dividend payment for four consecutive years, and its two hikes since the start of 2015, including the one noted above and its 1.2% hike in May 2015, have it on pace for 2016 to mark the fifth consecutive year with an increase.
