4 Stocks Boasting Over a Decade of Dividend Growth

Stocks such as Finning International Inc. (TSX:FTT) can provide rock-solid income.

The S&P/TSX Index has declined 1.4% week over week as of November 15 and temporarily fell below the 16,000 mark. This is after an impressive run that saw the index gain over 1,000 points since early September. In an article on October 31, I discussed several reasons why November could be a shaky month for the Canadian stock market.

Let’s take a look at four dividend stocks investors can target if they choose to take profits and opt for income generation as we near the end of 2017.

TransCanada Corporation (TSX:TRP)(NYSE:TRP) is a Calgary-based energy infrastructure company. Shares of TransCanada have increased 3.9% in 2017 and 6.7% year over year. In an October article, I covered the Energy East cancellation and how it could affect TransCanada stock. The company was bolstered by news early in the year that the Keystone Pipeline would go forward. The stock also offers a dividend of $0.62 per share, representing a 3.9% dividend yield. The company has delivered dividend growth for 16 consecutive years.

Finning International Inc. (TSX:FTT) is a Vancouver-based supplier of Caterpillar Inc. products and support services. Finning stock has climbed 17.6% in 2017 and 21% year over year. In its most recent third-quarter results released on November 7, revenue jumped 16% to $1.54 billion and net income rose 41% to $52 million. The Trump administration has made clear that it intends to dramatically increase infrastructure spending, which should give a boost to Caterpillar and, by extension, Finning. The stock also boasts a dividend of $0.19 per share, representing a 2.4% dividend yield. Finning has delivered 15 years of dividend growth.

Shaw Communications Inc. (TSX:SJR.B)(NYSE:SJR) is a Calgary-based telecommunications company. Shares have increased 5.2% in 2017 and 8% year over year. The company released its fourth-quarter results on October 26. It reported a consumer net gain of 25,000 compared to a 170,000 loss in Q4 2016, led by growth in internet and turnaround video subscribers. Wireless growth has powered many Canadian telecommunications companies, a much-needed boon with many consumers beginning to cut cable. The stock offers a dividend of $0.10 per share with a 4.1% dividend yield. Shaw boasts 14 years of dividend growth.

Exco Technologies Limited (TSX:XTC) is an Ontario-based designer, developer, and manufacturer of dies, moulds, components and assemblies, and consumable equipment for the die-cast, extrusion, and automotive industries. Shares have fallen 5% in 2017 and 1.5% year over year. The company released its third-quarter results on August 3. It reported sales of $145.9 million compared to $161.6 million in the third quarter of 2016. EBITDA also dropped from $23.2 million to $20.6 million. Retail sales of automotive parts have seen a marked increase year over year, even in the slow months of July and August this year.

Exco expects to release its fourth-quarter results on November 29. The stock offers a dividend of $0.08 per share, representing a 3.1% dividend yield. The company has delivered 11 consecutive years of dividend growth.

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 Ambrose O'Callaghan has no position in any stocks mentioned. Finning is a recommendation of Stock Advisor Canada.

More on Investing

Beware of bad investing advice.
Investing

2 No-Brainer Growth Stocks to Buy Right Now for Less Than $500

These no-brainer growth stocks have solid fundamentals and are likely to deliver above-average returns in the long term.

Read more »

oil pump jack under night sky
Energy Stocks

1 Energy ETF to Buy With $1,000 and Hold Forever

This Hamilton energy ETF is diversified across North America and pays a 10% yield.

Read more »

bulb idea thinking
Investing

The Smartest Growth Stocks to Buy With $1,000 Right Now

Here are two stocks to buy with $1,000 right now.

Read more »

Canadian dollars are printed
Dividend Stocks

Transform Your TFSA Into a Cash-Creating Machine With $15,000

If you have a windfall of $15,000, putting it in a TFSA is a great start. But investing it in…

Read more »

protect, safe, trust
Stocks for Beginners

2 Safe Canadian Stocks for Cautious Investors

Without taking unnecessary risks, cautious investors in Canada can still build a resilient portfolio by focusing on safe stocks like…

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Thursday, December 12

TSX investors will watch U.S. wholesale inflation data today as the Bank of Canada’s recent rate cut is likely to…

Read more »

ETF stands for Exchange Traded Fund
Investing

2 High-Yield Dividend ETFs to Buy to Generate Passive Income

Both of these Hamilton ETFs sport double-digit yields with monthly payouts.

Read more »

engineer at wind farm
Energy Stocks

1 Canadian Utility Stock to Buy for Big Total Returns

Let's dive into why Fortis (TSX:FTS) remains a top utility stock long-term investors may want to consider right now.

Read more »