February was highly active in terms of dividend hikes, and the companies that participated included several constituents of the S&P/TSX 60 Index. Let’s take a quick look at 10 constituents that raised their dividends last month, so you can determine if you should invest in one or more of them today.
Manulife Financial Corp. (TSX:MFC)(NYSE:MFC)
Manulife is one of the world’s largest insurance companies. In its fourth-quarter earnings release on February 7, it announced a 7.3% increase to its quarterly dividend to $0.22 per share, representing $0.88 per share annually, which gives it a 3.6% yield at the time of this writing. The insurance giant is now on pace for 2018 to mark the fifth straight year in which it has raised its annual dividend payment.
Suncor Energy Inc. (TSX:SU)(NYSE:SU)
Suncor is one of Canada’s largest integrated energy companies. In its fourth-quarter earnings release on February 7, it announced a 12.5% increase to its quarterly dividend to $0.36 per share, representing $1.44 per share annually, which gives it a 3.5% yield at the time of this writing. The energy titan is now positioned for 2018 to mark the 16th straight year in which it has raised its annual dividend payment.
BCE is the largest communications company in Canada. In its fourth-quarter earnings release on February 8, it announced a 5.2% increase to its quarterly dividend to $0.755 per share, representing $3.02 per share annually, which gives it a 5.3% yield at the time of this writing. The communications leader is now on track for 2018 to mark the 10th consecutive year in which it has raised its annual dividend payment.
Restaurant Brands International Inc. (TSX:QSR)(NYSE:QSR)
Restaurant Brands is one of the world’s largest quick-service restaurant companies. In its fourth-quarter earnings release on February 12, it announced a 114.3% increase to its quarterly dividend to US$0.45 per share, representing US$1.80 per share annually, which gives it a 3.1% yield at the time of this writing. The restaurant operator is on track for 2018 to mark the fourth straight year in which it has raised its annual dividend payment.
Brookfield Asset Management Inc. (TSX:BAM.A)(NYSE:BAM)
Brookfield is one of the largest alternative asset managers in the world. In its fourth-quarter earnings release on February 15, it announced a 7.1% increase to its quarterly dividend to US$0.15 per share, representing US$0.60 per share annually, which gives it a yield of about 1.5% at the time of this writing. The asset manager is now on pace for 2018 to mark the seventh consecutive year in which it has raised its annual dividend payment.
TransCanada Corporation (TSX:TRP)(NYSE:TRP)
TransCanada is one of North America’s largest owners and operators of energy infrastructure. In its fourth-quarter earnings release on February 15, it announced a 10.4% increase to its quarterly dividend to $0.69 per share, representing $2.76 per share annually, which gives it a 4.8% yield at the time of this writing. The infrastructure giant is now on pace for 2018 to mark the 18th straight year in which it has raised its annual dividend payment.
Magna International Inc. (TSX:MG)(NYSE:MGA)
Magna is one of the world’s leading suppliers of automotive parts and related services. In its fourth-quarter earnings release on February 22, it announced a 20% increase to its quarterly dividend to US$0.33 per share, representing US$1.32 per share annually, which gives it a 2.5% yield at the time of this writing. The auto giant is now on pace for 2018 to mark the ninth straight year in which it has raised its annual dividend payment.
CCL Industries Inc. (TSX:CCL.B)
CCL Industries is the world’s largest label company. In its fourth-quarter earnings release on February 22, it announced a 13% increase to its quarterly dividend to $0.13 per share, representing $0.52 per share annually, which gives it a 0.8% yield at the time of this writing. The packaging pioneer is now on track for 2018 to mark the 16th consecutive year in which it has raised its annual dividend payment.
Gildan Activewear Inc. (TSX:GIL)(NYSE:GIL)
Gildan is one of world’s largest manufacturers and distributors of apparel products. In its fourth-quarter earnings release on February 22, it announced a 19.8% increase to its quarterly dividend to US$0.112 per share, representing US$0.448 per share annually, which gives it a 1.6% yield at the time of this writing. The apparel giant is now positioned for 2018 to mark the sixth straight year in which it has raised its annual dividend payment.
Snc-Lavalin Group Inc. (TSX:SNC)
Snc-Lavalin is one of the world’s largest fully integrated professional services and project management companies. In its fourth-quarter earnings release on February 22, it announced a 5.1% increase to its quarterly dividend to $0.287 per share, representing $1.148 per share annually, which gives it a 2% yield at the time of this writing. The company is now on track for 2018 to mark the 17th straight year in which it has raised its annual dividend payment.
