These 2 Stocks Just Raised Their Dividends by 10-17%

Waste Connections Inc. (TSX:WCN)(NYSE:WCN) and Agnico Eagle Mines Ltd. (TSX:AEM)(NYSE:AEM) just raised their dividends by 10-17%.

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Earnings season has arrived. Not only is it a great time to see the most up-to-date financials of the world’s largest companies, but it’s also the most popular time for companies to raise their dividends. Let’s take a look at two companies that did just that on October 25, so you can determine if you should invest in one of them today.

Waste Connections Inc.

Waste Connections Inc. (TSX:WCN)(NYSE:WCN) is one of the largest waste services companies in North America. It provides solid waste collection, transfer, recycling, and disposal services in mostly exclusive and secondary markets in the United States and Canada.

In its third-quarter earnings release after the market closed on Wednesday, October 25, Waste Connections announced a 16.7% increase to its quarterly dividend to US$0.14 per share, equating to US$0.56 per share on an annualized basis, which brings its yield up to about 0.8% at the time of this writing.

Foolish investors must also make the following two notes about Waste Connections’s dividend.

First, the first payment at the increased rate is payable on November 22 to shareholders of record on November 8.

Second, Waste Connections’s two dividend hikes in the last 13 months, including its 24.1% hike in October 2016 and the one noted above, have it on track for 2017 to mark the seventh consecutive year in which it has raised its annual dividend payment, and the hike it just announced also puts it on track for 2018 to mark the eighth consecutive year with an increase.

Agnico Eagle Mines Ltd.

Agnico Eagle Mines Ltd. (TSX:AEM)(NYSE:AEM) is one of the world’s largest gold miners. It has eight mines located in Canada, Finland, and Mexico, and it has exploration and development activities in each of these countries as well as the United States and Sweden.

In its third-quarter earnings release after the market closed on Wednesday, October 25, Agnico Eagle announced a 10% increase to its quarterly dividend to US$0.11 per share, equating to US$0.44 per share annually, which brings its yield up to about 1% at the time of this writing.

Investors must also make the following two notes about Agnico Eagle’s dividend.

First, the first payment at the increased rate is payable on December 15 to shareholders of record as of December 1.

Second, Agnico Eagle’s 25% dividend hike in July 2016 put it on pace for 2017 to mark the second consecutive year in which it has raised its annual dividend payment, and the hike it just announced puts it on pace for 2018 to mark the third consecutive year with an increase.

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 the companies mentioned.

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