MENU

These 2 Stocks Raised Their Dividends on Tuesday

Earnings season is heating up. Not only is it a great time to see the most up-to-date financials of the world’s largest companies, but it’s also the most popular time for companies to raise their dividends. With that in mind, let’s take a closer look at two companies that raised their dividends on Tuesday.

FirstService Corp. (TSX:FSV)(NASDAQ:FSV)

FirstService is one of North America’s leading providers of property services. Its FirstService Residential division is North America’s largest manager of residential communities, and its FirstService Brands division is one of North America’s largest providers of essential property services, including property damage mitigation, reconstruction, remodeling, home inspection, residential painting, air conditioning, appliance, and plumbing services.

In a press release on Tuesday afternoon, the day prior to its fourth-quarter earnings release, FirstService announced a 10.2% increase to its quarterly dividend to US$0.135 per share, equating to US$0.54 per share on an annualized basis, which brings its yield up to about 0.8% today.

Foolish investors must also make the following three notes.

First, the first quarterly installment at the increased rate is payable on April 6 to shareholders of record at the close of business on March 29.

Second, 2017 marked the second straight year in which FirstService has raised its annual dividend payment, and this dividend increase has it on track for 2018 to mark the third straight year with an increase.

Third, I think the company’s consistently strong financial performance, including its 25.3% year-over-year increase in earnings to an adjusted US$2.03 per share in 2017, will allow its streak of annual dividend increases to continue in 2019 and beyond.

Intact Financial Corporation (TSX:IFC)

Intact Financial is Canada’s leading provider of property and casualty insurance. Its subsidiaries include Intact Insurance, belairdirect, BrokerLink, Jevco Insurance Company, and OneBeacon Insurance Group.

In its fourth-quarter earnings release on Tuesday afternoon, Intact announced a 9.4% increase to its quarterly dividend to $0.70 per share, equal to $2.80 per share on an annualized basis, which brings its yield up to about 2.8%.

Investors must also make the following three notes.

First, the first payment at the increased rate will come on March 29 to shareholders of record at the close of business on March 15.

Second, 2017 marked the 12th consecutive year in which Intact has raised its annual dividend payment, and this increase has it positioned for 2018 to mark the 13th consecutive year with an increase.

Third, I think the insurance giant’s very strong financial performance, including its 44.8% year-over-year increase in earnings per share to $5.75 in 2017, and its landmark acquisition OneBeacon Insurance Group, which bolstered its business and gave it cross-border capabilities that are sure to accelerate its growth going forward, will allow its streak of annual dividend increases to continue for the foreseeable future.

Don't Buy A SINGLE Stock Until You Read This

While conflict overseas is all media talking-heads seem to mention these days, the billionaire founder of Tesla is losing sleep over what he sees as a far bigger threat.

Elon Musk Warns: This has "vastly more risk than North Korea"

If you missed your opportunity to get in on Google, Microsoft, or Amazon in their early days, don't let it happen again. This emerging technology trend could offer a second chance for anyone who wishes they took part in these millionaire-maker stocks.

Click here to discover more!

Fool contributor Joseph Solitro has no position in any stocks mentioned. Intact Financial is a recommendation of Stock Advisor Canada.

Just Released!

Motley Fool CEO Tom Gardner Goes Live and Tells Hong Kong Investors To Buy This Canadian Darling Tech Stock…

I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. I understand I can unsubscribe from these updates at any time. Please read the Privacy Statement and Terms of Service for more information.