If you’re searching for high-quality dividend stocks that pay better-than-average yields, then I’ve got three that I think you will love. Let’s take a closer look at each, so you can determine if you should buy one or more of them today.
Chartwell Retirement Residences
Chartwell Retirement Residences (TSX:CSH.UN) is Canada’s largest owner and operator of senior residences. As of June 30, its portfolio consisted of 189 communities, including 134 fully owned, 46 partially owned, and nine managed communities, which are located across Ontario, Quebec, British Columbia, and Alberta.
Chartwell currently pays a monthly distribution of $0.048 per unit, equal to $0.576 per unit annually, giving it a yield of about 3.8% at the time of this writing.
It’s important for Foolish investors to note that Chartwell has raised its annual distribution for two consecutive years, and that its 2.5% hike in February has it on track for 2017 to mark the third consecutive year with an increase. I think the company’s consistent financial growth, including its 2.3% year-over-year increase in same-property net operating income to $126.46 million in the first half of 2017, will allow its streak of annual dividend increases to continue in 2018 and beyond, making it my favourite stock in the senior-care industry today.
Rogers Sugar Inc.
Rogers Sugar Inc. (TSX:RSI) is one of Canada’s leading producers of sugar and sugar products. Its products are marketed under the Lantic and Rogers trade names and include granulated, icing, cube, yellow, brown, and liquid sugars, and specialty sugars and syrups.
Rogers pays a quarterly dividend of $0.09 per share, equating to $0.36 per share on an annualized basis, and this gives it a yield of about 5.8% at the time of this writing.
Foolish investors must note that Rogers has paid out an annual dividend of at least $0.34 per share since it converted to a conventional corporation in January 2011, and that it has maintained its current annual rate since fiscal 2013. I think the sugar giant’s very strong financial performance, including its 13% year-over-year increase in free cash flow to $34.02 million in the first nine months of fiscal 2017, will allow it to continue to maintain its current annual dividend rate for the foreseeable future, or allow it to announce a slight hike whenever its management team chooses to do so.
Pattern Energy Group Inc.
Pattern Energy Group Inc. (TSX:PEG)(NASDAQ:PEGI) is one of the world’s largest independent producers of wind power. As of June 30, it owns and operates 20 wind power facilities, including one project it has agreed to acquire, with a total owned interest of 2,736 megawatts in the United States, Canada, and Chile.
Pattern currently pays a quarterly dividend of US$0.42 per share, equating to US$1.68 per share on an annualized basis, giving it a yield of about 6.9% at the time of this writing.
It’s very important for Foolish investors to note that Pattern has raised its annual dividend payment each of the last three years, that it has raised its quarterly dividend for 14 consecutive quarters, and that its recent hikes have it positioned for 2017 to mark the fourth consecutive year in which it has raised its annual dividend payment. The wind producer also has a dividend-payout target of 80% of its cash available for distribution, so I think its very strong growth, including its anticipated 5-24% year-over-year increase to US$140-165 million in 2017, will allow its streak of quarterly and annual dividend increases to continue for many years to come.
