January was an active month in terms of dividend increases, and the party heated up in February. Let’s take a quick look back at seven companies that raised their dividends during the year’s shortest month, so you can determine if you should invest in one of them today.
Intact Financial Corporation (TSX: IFC)
Intact Financial is Canada’s leading provider of property and casualty insurance. In its fiscal 2017 fourth-quarter and full-year earnings release on February 6, it announced a 9.4% increase to its quarterly dividend to $0.70 per share, representing $2.80 per share annually, which gives it a 2.8% yield at the time of this writing. The insurance giant is now on track for 2018 to mark the 13th straight year in which it has raised its annual dividend payment.
Great-West Lifeco Inc. (TSX: GWO)
Great-West Lifeco, the top stock pick of my Foolish colleague Patrick Giroux for the month of March, is an international financial services holding company with interests in several industries. In its fiscal 2017 fourth-quarter and full-year earnings release on February 8, it announced a 6% increase to its quarterly dividend to $0.389 per share, representing $1.556 per share annually, which gives it a 4.6% yield at the time of this writing. The company is now on pace for 2018 to mark the fourth consecutive year in which it has raised its annual dividend payment.
Brookfield Infrastructure Partners L.P. (TSX: BIP.UN)(NYSE: BIP)
Brookfield is one of the world’s largest owners and operators of high-quality, long-life infrastructure assets. In its fiscal 2017 fourth-quarter and full-year earnings release on February 9, Brookfield announced an 8% increase to its quarterly distribution to US$0.47 per unit, representing US$1.88 per unit annually, which gives it a 4.6% yield at the time of this writing. The infrastructure company is now on track for 2018 to mark the ninth straight year in which it has raised its annual dividend payment.
Killam Apartment REIT (TSX: KMP.UN)
Killam Apartment REIT is Atlantic Canada’s single largest residential landlord. In its fiscal 2017 fourth-quarter and full-year earnings release on February 13, it announced a 3.2% increase to its monthly distribution to $0.05333 per unit, representing $0.64 per unit annually, which gives it a 4.7% yield at the time of this writing. The REIT was already on pace for 2018 to mark the second consecutive year in which it has raised its annual distribution, and this hike puts it on pace for 2019 to mark the third consecutive year with an increase.
Exchange Income Corporation (TSX: EIF)
Exchange Income Corporation is a diversified, acquisition-oriented company focused on the aviation, aerospace, and manufacturing industries. In its fiscal 2017 fourth-quarter and full-year earnings release on February 21, it announced a 4.3% increase to its monthly dividend to $0.1825 per share, representing $2.19 per share annually, which gives it a 6.5% yield at the time of this writing. The company is now on pace for 2018 to mark the eighth straight year in which it has raised its annual dividend payment.
Innergex Renewable Energy Inc. (TSX: INE)
Innergex Renewable Energy is one of the largest owners and operators of renewable power-generation facilities in Canada, the United States, and France. In its fiscal 2017 fourth-quarter and full-year earnings release on February 21, it announced a 3% increase to its quarterly dividend to $0.17 per share, representing $0.68 per share annually, which gives it a 5.1% yield at the time of this writing. The clean energy giant is on track for 2018 to mark the fifth straight year in which it has raised its annual dividend payment.
Tricon Capital Group Inc. (TSX: TCN)
Tricon Capital Group, a stock that my Foolish colleague Will Ashworth is very bullish on, is a principal investor and asset manager focused on the residential real estate industries in Canada and the United States. In its fiscal 2017 fourth-quarter and full-year earnings release on February 28, it announced a 7.7% increase to its quarterly dividend to $0.07 per share, representing $0.28 per share annually, which gives it a 2.8% yield at the time of this writing. This is the second time the asset manager has raised its dividend since it began paying one in 2010.
