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These 5 Financial Stocks Have Rising Dividend Payouts

If you are an income investor looking for dividend-paying stocks, these five financial companies deserve your attention. While their dividend yields vary, they all have one thing in common: rising payouts. Each has a history of increasing payouts and has seen an increase in the past year.

First off is Toronto-Dominion Bank (TSX:TD)(NYSE:TD) with its dividend yield of 3.71%. Its current quarterly dividend offering is $0.60 per share for an annual rate of $2.40 per share. That’s up from $0.55 per share in the first quarter of 2017. The payout rate has gone up four to five cents per share each year for the past four years. This history of steadily increasing payouts is good for income investors.

The second company is Industrial Alliance Insurance and Financial Services Inc. (TSX:IAG) with its dividend yield of 2.62%. Its current quarterly dividend is $0.35 per share for an annual rate of $1.40 per share. That’s up from $0.32 per share in 2016. Over the last four years, the payout has risen at least $0.02 per share each year, meaning investors are getting more bang for their buck.

Third, we have Manulife Financial Corp.  (TSX:MFC)(NYSE:MFC) with its dividend yield of 3.33%. Its current quarterly dividend is $0.205 per share for an annual rate of $0.82. That’s an increase from $.185 per share in 2016 and up from $0.155 at the beginning of 2015.

Our fourth stock is Sun Life Financial Inc.  (TSX:SLF)(NYSE:SLF) with its dividend yield of 3.58%. Its current quarterly dividend is $0.435 per share for an annual rate of $1.74 per share. That’s up from $0.42 per share from the first quarter of 2017. The payout went up three cents per share in both 2015 and 2016, so this rising rate is consistent.

The final stock for today is First National Financial Corp.  (TSX:FN), which has a whopping yield of 7.09%. Unlike the other companies listed, this one pays dividends monthly. Its current monthly rate is $0.1542 per share for an annual rate of $1.85 per share. That’s an increase from $0.1417 in January and February of 2017 and an increase from $0.1292 in the first four months of 2016. There have been small but steady increases each year.

Investor takeaway

If you want consistent, rising income with your stocks, consider adding any one of these five companies to your Foolish portfolio.

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Fool contributor Susan Portelance has no position in any stocks mentioned.

 

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