As Foolish investors know, dividend-paying stocks far outperform their non-dividend-paying counterparts over the long term, and the top performers are those that increase their payments on an annual basis. With this in mind, let’s take a look at three stocks that have increased their annual dividend payments for a decade or more that you could buy today.
1. Canadian REIT: 13 consecutive years of increases
Canadian REIT (TSX:REF.UN) owns and operates one of the largest diversified real estate portfolios in North America. It pays a monthly cash distribution of $0.15 per share, or $1.80 per share annually, giving its stock a 4.2% yield at today’s levels. The company has also increased its annual cash distribution for 13 consecutive years, and its 6% increase in February 2014 and its 2.9% increase in June of this year puts it on pace for 2015 to mark the 14th consecutive year with an increase.
2. Ritchie Bros. Auctioneers: 11 consecutive years of increases
Ritchie Bros. Auctioneers (TSX: RBA)(NYSE: RBA) is the world’s largest seller of used industrial equipment. It pays a quarterly dividend of US$0.14 per share, or US$0.56 per share annually, which gives its stock a 2% yield at current levels. The company has also increased its annual dividend payment every year since it first began paying dividends in 2003, resulting in 11 consecutive years of increases, and its 7.7% increase in August 2014 puts it on pace for 2015 to mark the 12th consecutive year with an increase.
3. Cogeco Cable Inc.: 10 consecutive years of increases
Cogeco Cable Inc. (TSX: CCA) is the 11th largest hybrid fibre cable operator in North America. It pays a quarterly dividend of $0.35 per share, or $1.40 per share annually, giving its stock a 2% yield at today’s levels. The company has also increased its annual dividend payment for 10 consecutive years, and its 16.7% increase in October 2014 puts it on pace for 2015 to mark the 11th consecutive year with an increase.
Which of these stocks should you buy today?
Canadian REIT, Ritchie Bros. Auctioneers, and Cogeco Cable are three of the top dividend-growth stocks in the market today. Foolish investors should strongly consider making one or more of them a core holding.
