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3 Stocks That Just Raised Their Dividends by Over 8%

As dividend investors, it is our goal to build a portfolio of stocks with high and safe yields that have the ability to grow their dividends over time. One way to find great dividend stocks is to look for those that recently raised their payouts. With this in mind, let’s take a look at three that have done so to the tune of over 8% in the last week.

1. TransCanada Corporation

TransCanada Corporation (TSX:TRP)(NYSE:TRP) is one of North America’s largest owners and operators of energy infrastructure assets, including natural gas and oil pipelines, power-generation facilities, and natural gas storage facilities.

In its fourth-quarter earnings report on February 11, it announced an 8.7% increase to its dividend to $0.565 per share quarterly, or $2.26 per share annually, and this gives its stock a yield of about 4.7% at today’s levels.

It is also very important for investors to note that TransCanada has raised its annual dividend payment for 15 consecutive years, and this increase has it on pace for 2016 to mark the 16th consecutive year with an increase.

2. Manulife Financial Corp.

Manulife Financial Corp. (TSX:MFC)(NYSE:MFC) is the largest insurance company in Canada, the second-largest in North America, and the fifth-largest in the world with approximately $935.2 billion in assets under management and administration.

In its fourth-quarter earnings report on February 11, it announced an 8.8% increase to its dividend to $0.185 per share quarterly, or $0.74 per share annually, and this gives its stock a yield of about 4.6% at today’s levels.

Investors must also note that Manulife Financial has raised its annual dividend payment for two consecutive years, and its recent increases, including the one noted above and its 9.7% hike in May 2015, has it on pace for 2016 to mark the third consecutive year with an increase.

3. Brookfield Asset Management Inc.

Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM) is one of the world’s largest alternative asset managers with over $225 billion in assets under management.

In its fourth-quarter earnings report on February 12, it announced an 8.3% increase to its dividend to US$0.13 per share quarterly, or US$0.52 per share annually, and this gives its stock a yield of about 1.8% at today’s levels.

It is also important for investors to note that Brookfield has raised its annual dividend payment for four consecutive years, and this increase has it on pace for 2016 to mark the fifth consecutive year with an increase.

Which of these dividend stocks belongs in your portfolio?

TransCanada, Manulife Financial, and Brookfield Asset Management raised their dividends by over 8% in the last week, continuing their streaks of annual increases, and I think all represent great long-term investment opportunities today. Foolish investors should take a closer look and strongly consider beginning to scale in to positions in at least one of them.

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Fool contributor Joseph Solitro has no position in any stocks mentioned. The Motley Fool owns shares of BROOKFIELD ASSET MANAGEMENT INC. CL.A LV.

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