The Motley Fool

4 Large Caps That Raised Their Dividends in March

March was highly active in terms of companies raising their dividends, and we’ve already taken a look back at eight small caps and five mid-caps that announced hikes during the month. Now, let’s take a quick look at four large-caps that raised their rates during the month.

Toronto-Dominion Bank (TSX:TD)(NYSE:TD)

TD is Canada’s second-largest bank by assets with approximately $1.26 trillion in total as of January 31, 2018. It provides a broad range of financial products and services to over 25 million customers around the world.

In its fiscal 2018 first-quarter earnings release on March 1, TD announced an 11.7% increase to its quarterly dividend to $0.67 per share, representing $2.68 per share annually, which gives it a yield of about 3.7% at the time of this writing.

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

Canadian Natural Resources Limited (TSX:CNQ)(NYSE:CNQ)

Canadian Natural Resources is one of the world’s leading producers of natural gas, light crude oil, heavy crude oil, bitumen, and synthetic crude oil with operations across western Canada, the U.K. portion of the North Sea, and Offshore Africa.

In its fiscal 2017 fourth-quarter and full-year earnings release on March 1, Canadian Natural Resources announced a 21.8% increase to its quarterly dividend to $0.335 per share, representing $1.34 per share annually, which gives it a yield of about 3.4% at the time of this writing.

The oil and gas giant has raised its dividend each of the last 17 years, and these hikes puts it on track for 2018 to mark the 18th straight year with an increase. 

Power Financial Corp. (TSX:PWF)

Power Financial is one of the world’s largest diversified international management and holding companies with approximately $1.52 trillion in assets under administration as of December 31, 2017. Its primary holdings include a 67.7% ownership stake in Great-West Lifeco and a 61.5% ownership stake in IGM Financial.

In its fiscal 2017 fourth-quarter and full-year earnings release on March 23, Power Financial announced a 5% increase to its quarterly dividend to $0.433 per share, representing $1.732 per share annually, which gives it a yield of about 5.4% at the time of this writing.

Power Financial has raised its dividend each of the last three years, and this hike has it on pace for 2018 to mark the fourth consecutive year with an increase.

Dollarama Inc. (TSX:DOL)

Dollarama is the largest owner and operator of dollar stores in Canada. As of January 28, 2018, it has 1,160 stores across all 10 provinces.

In its fiscal 2018 fourth-quarter and full-year earnings release on March 29, Dollarama announced a 9.1% increase to its quarterly dividend to $0.12 per share, representing $0.48 per share annually, which gives it a yield of about 0.3% at the time of this writing.

The retail giant has raised its annual dividend payment for six consecutive years, and this hike puts it on track for fiscal 2019 to mark the seventh consecutive 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.

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.