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An Instant 5-Stock Portfolio for Dividend-Growth Investors

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Investing in dividend-growth stocks is one of the easiest ways to grow your wealth, because all you have to do is buy great stocks with safe and growing dividends and hold them for as long as possible. With this in mind, let’s take a closer look at five dividend-growth stocks that you could buy now and hold for decades.

North West Company Inc. (TSX:NWC)

North West is one of the leading retailers of food and everyday products and services to rural communities and urban neighbourhood markets in Canada, Alaska, the South Pacific, and the Caribbean. As of October 31, it operates 236 stores under its many banners, which include Northern, NorthMart, Giant Tiger, and RiteWay Food Markets.

North West currently pays a quarterly dividend of $0.32 per share, representing $1.28 per share annually, giving it a 4.2% yield. On top of its high yield, 2017 marks the sixth consecutive year in which it has raised its annual dividend payment, and I think its strong operational performance and its growing store count will allow this streak to continue in 2018 and beyond.

Royal Bank of Canada (TSX:RY)(NYSE:RY)

RBC is Canada’s second-largest bank, as measured by assets with approximately $1.21 trillion in total as of October 31. It provides a full range of financial products and services to over 16 million clients in Canada, the United States, and around the world.

RBC currently pays a quarterly dividend of $0.91 per share, representing $3.64 per share annually, giving it a 3.55% yield. Fiscal 2017 also marked the seventh consecutive year in which the financial giant had raised its annual dividend payment, and its 4.6% hike in August has it on track for fiscal 2018 to mark the eighth consecutive year with an increase.

High Liner Foods Inc. (TSX:HLF)

High Liner is one of North America’s largest processors and distributors of frozen seafood. Its brands include High Liner, Fisher Boy, Mirabel, C. Wirthy, and Sea Cuisine.

High Liner currently pays a quarterly dividend of $0.145 per share, representing $0.58 per share annually, which gives it a 3.9% yield. It’s also important to note that 2017 marks the 10th consecutive year in which it has raised its annual dividend payment, and its 3.6% hike last month has it on pace for 2018 to mark the 11th consecutive year with an increase.

Cogeco Communications Inc. (TSX:CCA)

Cogeco is the second-largest cable system operator in Ontario and Quebec with 770,000 internet service customers, and it’s the ninth-largest cable system operator in the United States with 273,000 internet service customers.

Cogeco currently pays a quarterly dividend of $0.475 per share, representing $1.90 per share on an annualized basis, which gives it a 2.2% yield. Fiscal 2017 officially marked the 13th consecutive year in which the company raised its annual dividend payment, and its 10.5% hike last month has it on track for fiscal 2018 to mark the 14th consecutive year with an increase.

Ritchie Bros. Auctioneers (TSX:RBA)(NYSE:RBA)

Ritchie Bros. is a global asset management and disposition company that offers end-to-end solutions for buying and selling used heavy equipment, trucks, and other assets. Its subsidiaries include Richie Bros. Auctioneers, IronPlanet, Kruse Energy, EquipmentOne, and Mascus.

Ritchie Bros. currently pays a quarterly dividend of US$0.17 per share, equating to US$0.68 per share annually, which gives it a 2.3% yield. Investors must note that 2017 marks the 14th consecutive year in which the asset manager has raised its annual dividend payment, and I think its strong operational performance and its strategic acquisition of IronPlanet, which closed on July 31 and is expected to be accretive to its earnings within the first year of integration, will allow this streak to continue in 2018 and beyond.

3,985 stocks listed between the TSX & TSXV, but here are the 5 we’d buy right now!

Overwhelmed by how many public companies there are to choose from in Canada? Motley Fool Canada Director of Research Iain Butler has you covered. Once a month, Iain and the rest of our team at Stock Advisor Canada reveal their five favourite Canadian stocks for new money now.

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Fool contributor Joseph Solitro has no position in any stocks mentioned.

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