If you’re a fan of stocks with high dividend yields that raise their payouts as often as possible, then I’ve come across two that you will fall in love with. These two stocks have raised their dividends for seven consecutive quarters and nine consecutive quarters, respectively, and they are well positioned to keep their streaks alive going forward. Let’s take a quick look at each, so you can determine if you should buy one or both of them today.

1. Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) is the fifth-largest bank in Canada with more than $478 billion in total assets.

It currently pays a quarterly dividend of $1.21 per share, or $4.84 per share annually, which gives its stock a yield of about 4.7% at today’s levels.

Investors must also make the following three notes.

First, CIBC has raised its dividend for seven consecutive quarters, growing its rate by 21% from $1.00 per share to its current rate of $1.21 per share in that span.

Second, the company has raised its annual dividend payment for five consecutive years, and its numerous hikes over the last year have it on pace for 2016 to mark the sixth consecutive year with an increase.

Third, it has a target dividend-payout range of 40-50% of its adjusted net earnings, so I think its consistent growth, including its 6.7% year-over-year increase to $4.95 per share in the first half of fiscal 2016, will allow its streak of quarterly and annual dividend increases to continue going forward.

2. Pattern Energy Group Inc.

Pattern Energy Group Inc. (TSX:PEG)(NASDAQ:PEGI) is one of the world’s largest independent generators of wind power. It owns and operates 16 wind power facilities across the United States, Canada, and Chili with a total owned capacity of 2,282 megawatts.

It currently pays a quarterly dividend of US$0.39 per share, or US$1.56 per share annually, which gives its stock a yield of about 7.4% at today’s levels.

Investors must also make the following three notes.

First, Pattern has raised its dividend for nine consecutive quarters, growing its rate by 24.8% from US$0.3125 per share to its current rate of US$0.39 per share in that span.

Second, the company has raised its annual dividend payment for two consecutive years, and its numerous hikes over the last year have it on pace for 2016 to mark the third consecutive year with an increase.

Third, it has a target dividend-payout ratio of 80% of its cash available for distribution, so I think its very strong growth, including its 339.6% year-over-year increase to $41 million in the first quarter of 2016 and its projected 35.2-56.8% year-over-year increase to $125-145 million for the full year of 2016, will allow its streak of quarterly and annual dividend increases to continue for the foreseeable future.

Motley Fool issues rare "double down" stock alert

Not to alarm you but you recently missed an important and rare event. Stock Advisor Canada issued a "double down"... and history suggests it pays to listen. Because 10 of the most lucrative "double downs" in one of the Motley Fool's premier services skyrocketed an average of 434%! So, simply click here to discover why Motley Fool "double downs" have some investors rocking with excitement. Five years from now, you'll wish you'd grabbed this stock. Click here to learn more.

NEW! This Stock Could Be Like Buying Amazon In 1997

For only the 5th time in over 14 years, Motley Fool co-founder David Gardner just issued a Buy Recommendation on this recent Canadian IPO.

Stock Advisor Canada’s Chief Investment Adviser, Iain Butler, also recommended this company back in March – and it’s already up a whopping 57%!

Enter your email address below to claim your copy of this brand new report, “Breakthrough IPO Receives Rare Endorsement.”

Fool contributor Joseph Solitro has no position in any stocks mentioned.