November was a highly active month in the world of dividend increases, which included increases of 2-39% by five S&P/TSX 60 constituents. Let’s take a closer look at each dividend increase, so you can determine if you should invest in one of these stocks today.
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. In its third-quarter earnings release on November 8, it announced a 4.6% increase to its quarterly dividend to $0.455 per share, representing $1.82 per share annually, which gives it a yield of about 3.6% at the time of this writing. It’s also important for Foolish investors to note that the financial giant is on track for 2018 to mark the fourth consecutive year in which it has raised its annual dividend payment.
Inter Pipeline Ltd. (TSX:IPL) is one of the largest owners and operators of energy infrastructure in western Canada and Europe. In its third-quarter earnings release on November 9, it announced a 3.7% increase to its monthly dividend to $0.14 per share, representing $1.68 per share annually, which gives it a yield of about 6.2% at the time of this writing. Investors should also note that the company is now on track for 2018 to mark the 10th consecutive year in which it has raised its annual dividend payment.
Canadian Tire Corporation Limited (TSX: CTC.A) is one of Canada’s largest retailers with a network of over 1,700 stores under numerous banners. In its third-quarter earnings release on November 9, it announced a 38.5% increase to its quarterly dividend to $0.90 per share, representing $3.60 per share annually, which gives it a yield of about 2.2% at the time of this writing. Investors must also note that the retail giant is now on pace for 2018 to mark the eighth consecutive year in which it has raised its annual dividend payment.
Telus Corporation (TSX: T)(NYSE: TU) is Canada’s third-largest and fastest-growing national telecommunications company. In its third-quarter earnings release on November 9, it announced a 2.5% increase to its quarterly dividend to $0.505 per share, representing $2.02 per share annually, which gives it a yield of about 4.2% at the time of this writing. Foolish investors must also note that the telecom giant is on track for 2018 to mark the 10th consecutive year in which it has raised its annual dividend payment, and that it has a dividend-growth program in place that calls for annual growth of 7-10% through 2019.
Enbridge Inc. (TSX: ENB)(NYSE: ENB) is the largest owner and operator of energy infrastructure in North America. In a press release on November 29, it announced a 10% increase to its quarterly dividend to $0.671 per share, representing $2.684 per share annually, which gives it a yield of about 5.5% at the time of this writing. It’s also important for Foolish investors to note that Enbridge is on track for 2018 to mark the 23rd consecutive year in which it has raised its annual dividend payment, and that it expects to deliver annual dividend growth of 10% through 2020.
