Let’s take a quick look back at five companies that raised their dividends in December, so you can determine if you should invest in one of them today.
RioCan Real Estate Investment Trust (TSX: REI.UN)
RioCan is one of Canada’s largest commercial REITs with a portfolio of 294 predominantly retail properties as of September 30.
In a press release on December 1, RioCan announced a 2.1% hike to its monthly distribution to $0.12 per unit, representing $1.44 per unit annually, which gives it a 5.9% yield today. Investors should note that this was the 17th time the company has raised its distribution since 1994 and the first time it has raised its distribution since 2013.
National Bank of Canada (TSX: NA)
National Bank is Canada’s sixth-largest bank by assets with approximately $245.83 billion as of October 31.
In its fourth-quarter earnings report on December 1, National Bank announced a 3.4% hike to its quarterly dividend to $0.60 per share, representing $2.40 per share annually, which gives it a yield of about 3.85% today. It’s important to note that fiscal 2017 marked the seventh straight year in which it has raised its annual dividend payment, and its two hikes in the last eight months have it positioned for fiscal 2018 to mark the eighth straight year with an increase.
Bank of Montreal (TSX: BMO)(NYSE: BMO)
BMO is the fourth-largest bank in Canada by assets with approximately $709.58 billion as of October 31.
In its fourth-quarter earnings report on December 5, BMO announced a 3.3% hike to its quarterly dividend to $0.93 per share, representing $3.72 per share annually, which gives it a 3.7% yield today. Foolish investors must note that fiscal 2017 marked the sixth straight year in which the banking giant has raised its annual dividend payment, and its two hikes in the last eight months has it positioned for fiscal 2018 to mark the seventh straight year with an increase.
Laurentian Bank of Canada (TSX: LB)
Laurentian Bank is one of the largest banks in eastern Canada with approximately $46.68 billion in assets as of October 31.
In its fourth-quarter earnings report on December 5, Laurentian Bank announced a 1.6% hike to its quarterly dividend to $0.63 per share, representing $2.52 per share annually, which gives it a 4.5% yield today. It’s important to note that fiscal 2017 marked the 10th straight year in which the company had raised its annual dividend payment, and its two hikes in the last eight months have it on pace for fiscal 2018 to mark the 11th straight year with an increase.
Allied Properties Real Estate Investment (TSX: AP.UN)
Allied Properties is one of Canada’s largest commercial REITs with a portfolio of 157 urban office properties as of September 30.
In a press release on December 6, Allied Properties announced a 2% hike to its monthly distribution to $0.13 per unit, representing $1.56 per unit annually, which gives it a 3.75% yield today. Foolish investors must note that 2017 marks the sixth straight year in which the REIT has raised its annual distribution, and this hike has it on pace for 2018 to mark the seventh straight year with an increase.
