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5 Dividend-Growth Stocks Worth Buying Today

As history shows, owning a portfolio of dividend-paying stocks is the best way to build wealth over the long term, and this investment strategy generates the highest returns when you own stocks that raise their payouts every year. With this in mind, let’s take a quick look at five stocks that have raised their dividends for eight consecutive years or more, so you can determine if you should buy one or more of them today.

1. Empire Company Limited

Empire Company Limited (TSX:EMP.A) is one of Canada’s largest food retailers through its wholly owned Sobeys Inc. subsidiary, which has more than 1,500 locations across the country. It also has a 41.5% ownership stake in Crombie Real Estate Investment Trust, which is one of the country’s largest owners of commercial real estate with a portfolio of 252 properties that total approximately 17 million square feet.

It pays a quarterly dividend of $0.10 per share, or $0.40 per share annually, which gives its stock a yield of about 1.8% at today’s levels. Investors must also note that the company has raised its annual dividend payment for 20 consecutive years, and its 11.1% hike in June 2015 has it on pace for 2016 to mark the 21st consecutive year with an increase.

2. SNC-Lavalin Group Inc.

SNC-Lavalin Group Inc. (TSX:SNC) is one of the world’s largest engineering and construction companies, and it’s a major owner of infrastructure assets, including airports, bridges, mass transit systems, and water treatment facilities.

It pays a quarterly dividend of $0.26 per share, or $1.04 per share annually, which gives its stock a yield of about 1.95% at today’s levels. Investors must also note that the company has raised its annual dividend payment for 15 consecutive years, and its 4% hike in March has it on pace for 2016 to mark the 16th consecutive year with an increase.

3. Royal Gold, Inc.

Royal Gold, Inc. (TSX:RGL)(NASDAQ:RGLD) is one of the world’s largest precious metals royalty and stream companies with ownership interests in 195 properties on six continents, including 38 producing mines and 24 development-stage projects.

It pays a quarterly dividend of US$0.23 per share, or US$0.92 per share annually, which gives its stock a yield of about 1.5% at today’s levels. Investors must also note that the company has raised its annual dividend payment for 14 consecutive years, and its 4.5% hike in November 2015 has it on pace for 2016 to mark the 15th consecutive year with an increase.

4. Suncor Energy Inc.

Suncor Energy Inc. (TSX:SU)(NYSE:SU) is Canada’s largest integrated oil and gas company. Its operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, product marketing, and renewable power generation.

It pays a quarterly dividend of $0.29 per share, or $1.16 per share annually, which gives its stock a yield of about 3.2% at today’s levels. Investors must also note that the company has raised its annual dividend payment for 13 consecutive years, and its 3.6% hike in July 2015 has it on pace for 2016 to mark the 14th consecutive year with an increase.

5. CAE, Inc.

CAE, Inc. (TSX:CAE)(NYSE:CAE) is a global leader in the delivery of training for the civil aviation, defence and security, healthcare, and mining industries. Its capabilities range from the sale of simulation products to providing comprehensive services such as training and aviation services, integrated enterprise solutions, in-service support, and crew sourcing.

It pays a quarterly dividend of $0.075 per share, or $0.30 per share annually, which gives its stock a yield of about 1.8% at today’s levels. Investors must also note that the company has raised its annual dividend payment for eight consecutive years, and its 7.1% hike in August 2015 has it on pace for 2016 to mark the ninth consecutive year with an increase.

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

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