As Foolish investors know, dividend-paying stocks far outperform non-dividend paying stocks over the long term, and the top returners are those that increase their dividends on an annual basis. With these facts in mind, let’s take a look at three stocks that have increased their annual dividend payments for 10 consecutive years or more, so you can decide which would be the best fit for your RRSP.
1. Plaza Retail REIT: 11 consecutive years of increases
Plaza Retail REIT (TSX:PLZ.UN) is one of Eastern Canada’s leading retail property managers, with 306 properties comprising of approximately 6.7 million square feet of gross leasable area. It pays a monthly distribution of $0.0208 per share, or $0.25 per share annually, giving its stock a 5.7% yield at today’s levels. The company has also increased its annual dividend payment for 11 consecutive years, and its 4.2% increase in January puts it on pace for 2015 to mark the 12th consecutive year with an increase.
2. Corus Entertainment Inc.: 11 consecutive years of increases
Corus Entertainment Inc. (TSX:CJR.B) is one of the largest integrated media and entertainment companies in Canada. It pays a monthly dividend of $0.095 per share, or $1.14 per share annually, which gives its stock an 8.1% yield at current levels. The company has also increased its annual dividend payment for 11 consecutive years, and its 4.6% increase in February puts it on pace for 2015 to mark the 12th consecutive year with an increase.
3. Computer Modelling Group Ltd.: 10 consecutive years of increases
Computer Modelling Group Ltd. (TSX:CMG) is one of the leading providers of software technology solutions to the world’s oil and natural gas industries. It pays a quarterly dividend of $0.10 per share, or $0.40 per share annually, giving its stock a 3% yield at today’s levels. The company has also increased its annual dividend payment for 10 consecutive years, and its 5.6% increase in February 2014 and its 5.3% increase in May 2014 puts it on pace for 2015 to mark the 11th consecutive year with an increase.
Which of these dividend aristocrats should you buy?
Plaza Retail REIT, Corus Entertainment, and Computer Modelling Group are three of the top dividend growth stocks in the market. Foolish investors should strongly consider beginning to scale in to long-term positions in one or more of them today.
