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4 Dividend Stocks to Buy in December

If you’re searching for great dividend stocks that you can buy now and hold for decades, then I’ve got four 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.

Morneau Shepell Inc. (TSX:MSI) is one of Canada’s leading providers of human resources consulting and technology solutions. It’s the country’s leading provider of employee- and family-assistance programs, its largest administrator of retirement and benefits plans, and its largest provider of integrated absence-management solutions.

Morneau Shepell pays a monthly dividend of $0.065 per share, equal to $0.78 per share annually, giving it a 3.6% yield at the time of this writing.

It’s important for investors to note that the company has maintained its current dividend rate since it converted its corporate structure to a conventional corporation in January 2011, and I think its very strong generation of free cash flow, including its 1.3% year-over-year increase to $51.87 million in the first nine months of 2017, will allow it to continue to do so for many years to come.

Sun Life Financial Inc. (TSX:SLF)(NYSE:SLF) is one of the world’s leading providers of financial products and services, including life, health, critical illness, and long-term care insurance, financial advice, and wealth and asset management solutions.

Sun Life currently pays a quarterly dividend of $0.455 per share, equal to $1.82 per share on an annualized basis, and this gives it a 3.6% yield at the time of this writing.

Investors must note that the financial giant’s recent dividend hikes, including its 4.6% hike on November 8, have it positioned for 2018 to mark the fourth consecutive year in which it has raised its annual dividend payment. The company also has a target dividend-payout range of 40-50% of its underlying net income, so I think its continued growth, including its 7.3% year-over-year increase to $3.10 per share in the first nine months of 2017, will allow its streak of annual dividend increases to easily continue into the 2020s.

Transcontinental Inc. (TSX:TCL.A) is Canada’s largest printer with operations in print, flexible packaging, publishing, and digital media. Its products and services help businesses attract, reach, and retain their target customers.

Transcontinental currently pays a quarterly dividend of $0.20 per share, equating to $0.80 per share annually, giving it a 2.9% yield at the time of this writing.

Foolish investors must note that the printer’s 8.1% dividend hike in March has it positioned for 2018 to mark the 17th consecutive year in which it has raised its annual dividend payment, and I think its strong financial performance, including its 12.3% year-over-year increase in net earnings to an adjusted $1.73 per share in the first nine months of 2017, will allow this streak to continue in 2019 and beyond.

Brookfield Infrastructure Partners L.P. (TSX:BIP.UN)(NYSE:BIP) is one of the world’s largest owners and operators of infrastructure. Its portfolio of assets includes rail tracks, port terminals, toll roads, communications towers, electricity transmission lines, natural gas transmission lines and storage terminals, and an electricity and natural gas distribution business, which are located across North America, South America, Europe, and Asia Pacific.

Brookfield currently pays a quarterly distribution of US$0.435 per unit, equal to US$1.74 per unit annually, which gives it a 4% yield at the time of this writing.

It’s important to note that 2017 marks the eighth consecutive year in which the infrastructure titan has raised its annual distribution, and that it has a long-term distribution-growth target of 5-9% annually, so I think its strong financial performance, including its 14.9% year-over-year increase in funds from operations to US$2.32 per unit in the first nine months of 2017, will allow it to announce another distribution hike when it releases its fourth-quarter earnings results in February 2018.

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Fool contributor Joseph Solitro has no position in any stocks mentioned. Morneau Shepell is a recommendation of Dividend Investor Canada. Brookfield Infrastructure Partners is a recommendation of Stock Advisor Canada.

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