The Motley Fool

8 Small Caps That Raised Their Dividends in March

March came and went, and it was a highly active month in terms of companies raising their dividends. Let’s take a quick look at eight small caps that raised their rates during the month, so you can determine if you should invest in one of them today.   

Transcontinental Inc. (TSX:TCL.A)

Transcontinental is Canada’s largest printer, and it’s a key supplier of flexible packing in both Canada and the U.S.

In its fiscal 2018 first-quarter earnings release on March 1, Transcontinental announced a 5% increase to its quarterly dividend to $0.21 per share, representing $0.84 per share annually, which gives it a yield of about 3.3% at the time of this writing.

The company was already on pace for fiscal 2018 to mark the 17th consecutive year in which it has raised its annual dividend payment, so this hike puts it on pace for fiscal 2019 to mark the 18th consecutive year with an increase.

Martinrea International Inc. (TSX:MRE)

Martinrea is one of the largest diversified automotive suppliers in the world.

In its fiscal 2017 fourth-quarter and full-year earnings release on March 1, Martinrea announced a 50% increase to its quarterly dividend to $0.045 per share, representing $0.18 per share annually, which gives it a yield of about 1.2% at the time of this writing.

This marked the first time the automotive supplier had raised its dividend since it initiated its dividend in 2013.

Enercare Inc. (TSX:ECI)

Enercare is one of the largest home and commercial services and energy solutions companies in North America.

In its fiscal 2017 fourth-quarter and full-year earnings release on March 6, Enercare announced a 4% increase to its monthly dividend to $0.0832 per share, representing $0.9984 per share annually, which gives it a yield of about 5.65% at the time of this writing.

Enercare was already on track for 2018 to mark the eighth straight year in which it has raised its annual dividend payment, so this hike puts it on track for 2019 to mark the ninth straight year with an increase.

Enghouse Systems Limited (TSX:ENGH)

Enghouse Systems is one of the world’s leading providers of enterprise software solutions.

In its fiscal 2018 first-quarter earnings release on March 8, Enghouse announced a 12.5% increase to its quarterly dividend to $0.18 per share, representing $0.72 per share annually, which gives it a yield of about 1.1% at the time of this writing.

The software provider was already on pace for fiscal 2018 to mark the 10th consecutive year in which it has raised its annual dividend payment, so this hike puts it on pace for fiscal 2019 to mark the 11th consecutive year with an increase.

Cara Operations Ltd. (TSX:CARA)

Cara is one of Canada’s largest full-service restaurant companies.

In its fiscal 2017 fourth-quarter and full-year earnings release on March 9, Cara announced a 5% increase to its quarterly dividend to $0.1068 per share, representing $0.4272 per share annually, which gives it a yield of about 1.5% at the time of this writing.

This marked the first time Cara had raised its dividend since it paid its first pro-rated quarterly dividend in August 2015 following its April 2015 initial public offering.

Cargojet Inc. (TSX:CJT)

Cargojet is the leading provider of time-sensitive overnight air cargo services in Canada.

In its fiscal 2017 fourth-quarter and full-year earnings release on March 14, Cargojet announced a 10.1% increase to its quarterly dividend to $0.212 per share, representing $0.848 per share annually, which gives it a yield of about 1.25% at the time of this writing.

This hike puts Cargojet on pace for 2018 to mark the third straight year in which it has raised its annual dividend payment.

Fiera Capital Corp. (TSX:FSZ)

Fiera Capital is Canada’s third-largest publicly traded asset manager.

In its fiscal 2017 fourth-quarter and full-year earnings release on March 23, Fiera announced a 5.6% increase to its quarter dividend to $0.19 per share, representing $0.76 per share annually, which gives it a yield of about 6.9% at the time of this writing.

The asset manager was already on track for 2018 to mark the eighth straight year in which it has raised its annual dividend payment, so this hike puts it on track for 2019 to mark the ninth straight year with an increase.

Badger Daylighting Ltd. (TSX:BAD)

Badger Daylighting is North America’s leading provider of non-destructive hydrovac excavation services.

In its fiscal 2017 fourth-quarter and full-year earnings release on March 27, Badger announced an 18.4% increase to its monthly dividend to $0.045 per share, representing $0.54 per share annually, which gives it a yield of about 2.1% at the time of this writing.

Badger was already on track for 2018 to mark the third straight year in which it has raised its annual dividend payment, so this hike puts it on track for 2019 to mark the fourth straight year with an increase.

Just Released! 5 Stocks Under $49 (FREE REPORT)

Motley Fool Canada's market-beating team has just released a brand-new FREE report revealing 5 "dirt cheap" stocks that you can buy today for under $49 a share.
Our team thinks these 5 stocks are critically undervalued, but more importantly, could potentially make Canadian investors who act quickly a fortune.
Don't miss out! Simply click the link below to grab your free copy and discover all 5 of these stocks now.

Claim your FREE 5-stock report now!

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

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.

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.