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November came and went, and it was a highly active time for companies to raise their dividends. Let’s take a quick look back at six mid-caps that did just that, so you can determine if you should invest in one of them today.
Genworth MI Canada Inc. (TSX:MIC) is the parent company of Genworth Financial Mortgage Insurance Company Canada, which is the country’s largest private residential mortgage insurer. In its third-quarter earnings release on November 2, it announced a 6.8% increase to its quarterly dividend to $0.47 per share, representing $1.88 per share annually, which gives it a yield of about 4.3% at the time of this writing. It’s also important to note that it is on track for 2018 to mark the ninth consecutive year in which it has raised its annual dividend payment.
Cogeco Communications Inc. (TSX:CCA) is the second-largest cable system operator in Ontario and Quebec, and it’s the ninth-largest cable system operator in the United States. In its fourth-quarter earnings release on November 2, it announced a 10.5% increase to its quarterly dividend to $0.475 per share, representing $1.90 per share annually, which gives it a yield of about 2.1% at the time of this writing. It’s also important to note that it is on track for fiscal 2018 to mark the 14th consecutive year in which it has raised its annual dividend payment.
Granite Real Estate Investment Trust (TSX:GRT.UN)(NYSE:GRP.U) is one of the world’s largest owners and managers of industrial real estate with a portfolio of more than 90 income-producing properties. In its third-quarter earnings release on November 7, it announced a 4.6% increase to its monthly distribution to $0.227 per unit, representing $2.72 per unit annually, which gives it a yield of about 5.4% at the time of this writing. It’s also important to note that it is on track for 2018 to mark the sixth consecutive year in which it has raised its annual distribution.
Industrial Alliance Insur. & Fin. Ser. (TSX:IAG) is one of Canada’s leading providers of financial products and services, including life, health, auto, and home insurance. In its third-quarter earnings release on November 8, it announced an 8.6% increase to its quarterly dividend to $0.38 per share, representing $1.52 per share annually, which gives it a yield of about 2.5% at the time of this writing. It’s also important to note that it is on pace for 2018 to mark the fifth consecutive year in which it has raised its annual dividend payment.
Pattern Energy Group Inc. (TSX:PEG)(NASDAQ:PEGI) is one of the world’s largest independent producers of wind power with 20 facilities located across the United States, Canada, and Chile. In its third-quarter earnings release on November 9, it announced a 0.5% increase to its quarterly dividend to US$0.422 per share, representing US$1.69 per share annually, which gives it a yield of about 7.7% at the time of this writing. It’s also worth noting that the company is on track for 2018 to mark the fifth consecutive year in which it has raised its annual dividend payment.
Enbridge Income Fund Holdings Inc. (TSX:ENF) indirectly owns high-quality, low-risk energy infrastructure assets in North America. In a press release on November 29, it announced a 10% increase to its monthly dividend to $0.1883 per share, representing $2.2596 per share annually, and this is effective for its February 2018 dividend payment and gives it a yield of about 7.6% at the time of this writing. Foolish investors should also note that The Fund is on track for 2018 to mark the eighth consecutive year in which it has raised its annual dividend payment, and that it has a dividend-growth target of approximately 10% through 2020.
