3 Companies That Hiked Their Dividends in the Last Week

Brookfield Property Partners LP (TSX:BPY.UN)(NYSE:BPY), Intact Financial Corporation (TSX:IFC), and Boston Pizza Royalties Income Fund (TSX:BPF.UN) recently hiked their dividends. Should you buy one of them today?

| More on:

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 a great dividend stock is to look for those that recently announced increases to their payouts, so with this in mind, let’s take a look at three that have done so in the last week.

1. Brookfield Property Partners LP

Brookfield Property Partners LP (TSX:BPY.UN)(NYSE:BPY) is one of the world’s largest owners of commercial real estate with a diversified portfolio of over 130 office properties and over 150 retail malls around the world.

In its fourth-quarter earnings report on February 5 it announced a 5.7% increase to its distribution to US$0.28 per share quarterly, or US$1.12 per share annually, and this gives its stock a yield of about 5.8% at today’s levels.

It is also important for investors to note that Brookfield raised its distribution by 6% in 2015, and the increase it just announced puts in on pace for 2016 to mark the second consecutive year in which it has raised its annual distribution.

2. Intact Financial Corporation

Intact Financial Corporation (TSX:IFC) is the leading provider of property and casualty insurance in Canada.

In its fourth-quarter earnings report on February 10 it announced a 9.4% increase to its dividend to $0.58 per share quarterly, or $2.32 per share annually, and this gives its stock a yield of about 2.8% at today’s levels.

Investors must also note that Intact Financial has raised its annual dividend payment for 10 consecutive years, and the increase it just announced puts it on pace for 2016 to mark the 11th consecutive year with an increase.

3. Boston Pizza Royalties Income Fund

Boston Pizza Royalties Income Fund (TSX:BPF.UN) is a franchise-driven casual dining restaurant company, and it is the largest casual dining brand in Canada with more than 370 locations across the country.

In its fourth-quarter earnings report on February 10 it announced a 6.2% increase to its distribution to $0.115 per share monthly, or $1.38 per share annually, and this gives its stock a yield of about 8.1% at today’s levels.

It is also important for investors to note that Boston Pizza has raised its annual distribution for four consecutive years, and its recent increases, including the one noted above and its 6.2% hike in April 2015, puts it on pace for 2016 to mark the fifth consecutive year with an increase.

Should you buy one of these dividend growers today?

Brookfield Property Partners, Intact Financial, and Boston Pizza Royalties Income Fund recently raised their dividends, and I think all represent attractive long-term investment opportunities today. Foolish investors should take a closer look at each and strongly consider establishing positions in at least one of them.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Joseph Solitro has no position in any stocks mentioned. Intact Financial is a recommendation of Stock Advisor Canada.

More on Dividend Stocks

Businessman holding tablet and showing a growing virtual hologram of statistics, graph and chart with arrow up on dark background. Stock market. Business growth, planning and strategy concept
Dividend Stocks

TFSA Magic: Earn Enormous Passive Income That the CRA Can’t Touch

If you're seeking out passive income, with zero taxes involved, then get on board with a TFSA and this portfolio…

Read more »

Man with no money. Businessman holding empty wallet
Dividend Stocks

2 Stocks Under $50 New Investors Can Confidently Buy

There are some great stocks under $50 that every investor needs to know about. Here’s a look at two great…

Read more »

think thought consider
Dividend Stocks

Down 10.88%: Is ATD Stock a Good Buy After Earnings?

Alimentation Couche-Tard (TSX:ATD) stock might not be the easy buy-case it once was. Here’s a look at what happened.

Read more »

money cash dividends
Dividend Stocks

TFSA Dividend Stocks: Earn $1,200/Year Tax-Free

Canadian stocks like Fortis are a must-have in your portfolio to earn tax-free yields for decades.

Read more »

sale discount best price
Dividend Stocks

1 Dividend Stock Down 11 Percent to Buy Right Now

Do you want a great dividend stock down 11% that can provide years of growth potential? Here's one heavily discounted…

Read more »

Growth from coins
Dividend Stocks

1 Grade A Dividend Stock Down 11% to Buy and Hold Forever 

If you're looking for the right dividend stock at the right price, you're going to want to consider this insurance…

Read more »

Target. Stand out from the crowd
Dividend Stocks

2 Dividend Stocks to Double Up on Right Now

Are you looking for dividend stocks to buy right now? Here are two top picks!

Read more »

edit Taxes CRA
Dividend Stocks

Tax Time: How to Keep More of Your Money

Nearly everyone hates paying taxes, although Canadians can lessen the financial pain with the right tax strategies.

Read more »