Love Dividend Growth Stocks? These 3 Stocks Are for You

If you’re a long-term investor that loves dividend growth stocks, these three Canadian companies are some of the best businesses you can buy today.

Dividend investing is one of the best and most popular investing strategies there is. Buying high-quality growth stocks that will pay you a predictable and reliable dividend is one of the greatest ways to put your money to work.

These companies are high-quality businesses that will be around for years and can consistently increase their payouts to investors without sacrificing the health of their financials or their future growth potential.

This is what makes them some of the best long-term investments. So if you’re a dividend growth investor looking to buy some of the best stocks in Canada, these three are for you.

A top Canadian Dividend Aristocrat

The best dividend growth stocks will often have a long track record of consistent growth in both their operations and the dividend payment they make to investors.

That’s exactly what you get with a company like Enbridge (TSX: ENB)(NYSE: ENB), which has increased its dividend for 26 consecutive years now.

There are a couple of reasons why Enbridge is such a high-quality dividend growth stock that offers stable and predictable cash flow. First, it operates in an industry that’s crucial to the economy. However, it also has a massive portfolio of diversified operations designed to withstand commodity price cycles.

This is why Enbridge is such an incredible investment that you can buy and hold for the long term. It is consistently growing its operations, which allows it to increase its payout to investors each year.

Plus, it even offers a significant dividend today, currently yielding roughly 6.5%. So if you’re looking for a top dividend growth stock, Enbridge is easily one of the best in Canada.

A top Canadian telecom stock

Another massive Canadian business with highly robust operations just like Enbridge is BCE (TSX: BCE)(NYSE: BCE). BCE is a massive telecom stock with a market cap north of $60 billion.

Just like Enbridge, it operates in an industry that’s crucial to our economy. In addition, it’s also an industry with massive barriers to entry and long-life assets that earn incredible free cash flow.

This is why BCE is another one of the very best dividend growth stocks you can buy for the long term. Not only are its operations highly robust, but its segments are integrated well, creating a tonne of attractive synergies.

And with 5G technology rolling out, creating growth potential for years, you don’t have to worry about the top telecom stock slowing down anytime soon.

At current prices, its dividend yields over 5.2%. Plus, that dividend has been increased by more than 28% over the last five years.

If you’re looking for a high-quality dividend growth stock you can buy and hold for years, BCE is certainly one of the top companies to consider.

One of the best dividend growth stocks in Canada

If you haven’t noticed already, this list and often some of the best dividend growth stocks are massive companies that dominate core industries in our economy. And there may be no better industry to invest in than residential real estate.

That’s why Canadian Apartment Properties REIT (TSX: CAR.UN) is one of the best growth stocks for dividend investors to consider today.

CAPREIT is an ideal investment because it’s a great long-term growth stock, but it’s also highly resilient.

The trust has an overall occupancy rate of more than 97%. Just 0.6% of its operating revenue is being impacted by the pandemic.

And even with the pandemic ongoing, CAPREIT has continued to invest in growth. Through 2020 and the first half of 2021, the dividend growth stock invested $150 million in upgrades to suites, common areas, and energy savings. Not to mention the property acquisitions it continues to make.

This has led to strong and consistent growth for both the value of the units and the dividend that investors are receiving. Over the last five years, investors have earned a compounded annual growth rate of 19%. And just last week, the REIT announced another 5% increase to its dividend.

So if you’re looking for a high-quality dividend growth stock that you can own for years, Canadian Apartment Properties is an excellent choice.

Fool contributor Daniel Da Costa owns shares of BCE INC. and ENBRIDGE INC. The Motley Fool owns shares of and recommends Enbridge.

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