8 Mid-Caps That Raised Their Dividends in February

FirstService Corp. (TSX:FSV)(NASDAQ:FSV), Brookfield Renewable Partners LP (TSX:BEP.UN)(NYSE:BEP), and six other stocks hiked their dividends last month. Which should you buy?

The Motley Fool

February came and went, and it was a month filled with dividend increases. Let’s take a quick look back at eight mid-caps that raised their dividends during the month, so you can decide if you should invest in one of them today.

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

FirstService is one of North America’s largest managers of residential communities, and it’s one of its leading providers of essential property services. In a press release on February 6, it announced a 10.2% increase to its quarterly dividend to US$0.135 per share, representing US$0.54 per share annually, which gives it a 0.8% yield. The company is now on track for 2018 to mark the third straight year in which it has raised its annual dividend payment.

Brookfield Renewable Partners LP (TSX:BEP.UN)(NYSE:BEP)

Brookfield Renewable Partners is one of the world’s leading owners and operators of renewable power-generation facilities. In its fiscal 2017 fourth-quarter and full-year earnings release on February 7, it announced a 4.8% increase to its quarterly distribution to US$0.49 per unit, representing US$1.96 per unit annually, which gives it a 6.4% yield. The company is now on track for 2018 to mark the seventh straight year in which it has raised its annual distribution.

Domtar Corp. (TSX:UFS)(NYSE:UFS)

Domtar is one of the world’s leading providers of fibre-based products, including communication, specialty, and packaging papers, market pulp, and absorbent hygiene products. In its fiscal 2017 fourth-quarter and full-year earnings release on February 8, it announced a 4.8% increase to its quarterly dividend to US$0.435 per share, representing US$1.74 per share annually, which gives it a 3.9% yield. The company is now positioned for 2018 to mark the eighth straight year in which it has raised its annual dividend payment.

Brookfield Property Partners LP (TSX:BPY.UN)(NYSE:BPY)

Brookfield Property Partners is one of the world’s leading owners, operators, and developers of commercial real estate. In its fiscal 2017 fourth-quarter and full-year earnings release on February 8, it announced a 6.8% increase to its quarterly distribution to US$0.315 per unit, representing US$1.26 per unit annually, which gives it a 6.2% yield. The company is now on track for 2018 to mark the fourth straight year in which it has raised its annual distribution.

Maple Leaf Foods Inc. (TSX:MFI)

Maple Leaf Foods is Canada’s leading consumer packaged meats company. In its fiscal 2017 fourth-quarter and full-year earnings release on February 21, it announced an 18.2% increase to its quarterly dividend to $0.13 per share, representing $0.52 per share annually, which gives it a 1.6% yield. The company is now on pace for 2018 to mark the fourth consecutive year in which it has raised its annual dividend payment.

Stantec Inc. (TSX:STN)(NYSE:STN)

Stantec is one of the world’s leading providers of comprehensive professional services, including engineering, architecture, and construction services. In its fiscal 2017 fourth-quarter and full-year earnings release on February 21, it announced a 10% increase to its quarterly dividend to $0.1375 per share, representing $0.55 per share annually, which gives it a 1.7% yield. The company is now positioned for 2018 to mark the sixth consecutive year in which it has raised its annual dividend payment.

Chartwell Retirement Residences (TSX:CSH.UN)

Chartwell Retirement Residences is Canada’s largest owner and operator of senior residences. In its fiscal 2017 fourth-quarter and full-year earnings release on February 22, it announced a 2.1% increase to its monthly distribution to $0.049 per unit, representing $0.588 per unit annually, which gives it a 3.8% yield. The company was already on pace for 2018 to mark the fourth straight year in which it has raised its annual dividend payment, so this increase puts it on pace for 2019 to mark the fifth straight year with an increase.

Toromont Industries Ltd. (TSX:TIH)

Toromont Industries is one of Canada’s largest Caterpillar dealers by revenue and geographic territory, and it’s one of North America’s leading providers of industrial and recreational refrigeration systems. In its fiscal 2017 fourth-quarter and full-year earnings release on February 22, it announced a 21.1% increase to its quarterly dividend to $0.23 per share, representing $0.92 per share annually, which gives it a 1.6% yield. The company is now on pace for 2018 to mark the sixth straight year in which it has raised its annual dividend payment.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Joseph Solitro has no position in any stocks mentioned. Brookfield Renewable Partners is a recommendation of Dividend Investor Canada.

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