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4 Stocks Boasting +15 Years of Dividend Growth

The S&P/TSX Index moved up in September, so investors may be eager to double up capital gains with the income provided by dividend stocks. Big yields are tempting, but those with a long-term outlook should target dividend stocks that have a proven track record of dividend growth over many years. Let’s take a look at four dividend stocks today that have +15 years of dividend growth.

Canadian National Railway Company

Canadian National Railway Company (TSX:CNR)(NYSE:CNI) stock has climbed 12.2% in 2017 as of close on September 26. The Montreal-based company released its second-quarter results on July 25. Net income increased 20% to $1 billion, and revenues experienced growth of 17% to $3.3 billion, which was a quarterly record. Canadian rail has experienced some pressure with a high Canadian dollar souring sentiment on manufacturing stocks.

Canadian National Railway has experienced dividend growth for over 20 years. Currently, it offers a dividend of $0.41 per share, representing a dividend yield of 1.6%.

Saputo Inc.

Shares of the Montreal-based dairy company Saputo Inc. (TSX:SAP) have declined 9% in 2017 and 5.9% year over year. Saputo released its fiscal 2018 first-quarter results on August 1. It posted net earnings of $200.3 million — up 13.4% — and revenues of $2.89 billion — up 9%. The rising Canadian dollar had a positive impact on Saputo results, which could bode well for the fiscal 2018 second-quarter results set for release in October. Saputo will also be eagerly watching the developments of NAFTA negotiations as supply management continues to be a hot topic.

Saputo has announced dividend growth for 17 consecutive years now. The stock offers a dividend of $0.16 per share, representing a dividend yield of 1.5%.

Canadian Western Bank

Canadian Western Bank (TSX:CWB) is an Edmonton-based regional bank with most of its operations located in western Canada. The bank released its third-quarter results on August 31. Earnings were impressive with net income increasing 24% to $56.3 million. Canadian Western Bank has ambitions to expand its wealth management enterprise after seeing positive growth in that area. Assets under management grew to $2 billion from $1.9 billion in Q3 2016.

The bank also hiked its dividend by 4% to $0.24 per share, representing a 3% dividend yield. Canadian Western Bank has boasted dividend growth for 25 consecutive years.

Finning International Inc.

Shares of Caterpillar Inc. distributor Finning International Inc. (TSX:FTT) have increased 7.4% in 2017 and 14.5% year over year. The company reported its second-quarter results on August 9. Revenue was up 21% from Q2 2016. Finning saw higher profitability in Canada, the U.K., and Ireland due to superior market conditions that drove operating performance. The company has benefitted from a big boost at Caterpillar following the 2016 U.S. election as the Trump administration has promised big investments in construction and infrastructure.

Finning hiked its dividend to $0.19 per share, representing a dividend yield of 2.7%. The company has experienced dividend growth for 15 years.

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Fool contributor Ambrose O'Callaghan has no position in any stocks mentioned. David Gardner owns shares of Canadian National Railway. The Motley Fool owns shares of Canadian National Railway. Canadian National Railway and Finning are recommendations of Stock Advisor Canada.

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