Telus Corporation (TSX:T)(NYSE:TU) and High Liner Foods Inc. (TSX:HLF), two of the best dividend-growth stocks in their respective industries, just raised their dividends once again. Let’s take a closer look at each dividend hike, so you can determine if you should invest in one of these companies today.
Telus Corporation is Canada’s third-largest and fastest-growing national telecommunications company with about 12.94 million subscriber connections as of September 30.
In its third-quarter earnings release on November 9, Telus announced a 2.5% increase to its quarterly dividend to $0.505 per share, equating to $2.02 per share on an annualized basis, which brings its yield up to about 4.2% at the time of this writing.
Foolish investors must make the following three notes about Telus’s dividend.
First, the first quarterly installment at the increased rate is payable on January 2 to shareholders of record at the close of business on December 11.
Second, the company has raised its annual dividend payment for 14 consecutive years, and its recent hikes, including its 2.6% hike in May and the one noted above, have it on track for 2018 to mark the 15th consecutive year with an increase.
Third, Telus has a dividend-growth program in place that calls for annual growth of 7-10% through 2019, and I think its consistently strong financial performance will allow it to extend this program into the 2020s.
High Liner Foods Inc.
High Liner Foods Inc. (TSX:HLF) is one of North America’s largest processors and distributors of value-added frozen seafood. Its family of brands includes High Liner, Fisher Boy, Mirabel, and Sea Cuisine.
In its third-quarter earnings release on November 9, High Liner announced a 3.6% increase to its quarterly dividend to $0.145 per share, equating to $0.58 per share on an annualized basis, which brings its yield up to about 4.2% at the time of this writing.
Investors should also make the following two notes about High Liner’s new dividend.
First, the first payment at the increased rate is payable on December 15 to holders of record on December 1.
Second, High Liner has raised its annual dividend payment for 10 consecutive years, and the hike it just announced has it positioned for 2018 to mark the 11th consecutive year with an increase.