Dividend Stocks With The Strength To Grow Their Payouts

What are we looking for? Dividend stocks with the capacity to grow their payments. A string of promising U.S. economic results led to heightened speculation about the timing for rate hikes, but Janet Yellen’s promise to be patient reassured markets on Wednesday. Given persistent U.S. unemployment and low inflation, the U.S. Federal Reserve chair said the central bank would take a measured and gradual approach to normalizing monetary policy.

The 17 Canadian stocks that met our criteria all represent dividend strength – past, present and future. The financial sector is the best represented, and four of the Big Six banks made the list (plus Laurentian Bank of Canada). Neither Canadian Imperial Bank of Commerce nor Bank of Montreal had sufficient dividend growth. Both the telecommunications and information technology sectors had just one dividend champion on the list: Telus Corp. , and Evertz Technologies Ltd. , which supplies audio and video hardware and software to broadcasters. Suncor Energy Inc. was the only large integrated energy company to meet all the conditions, and while the stock has declined sharply amid the oil selloff, Suncor distributes less than half of its profits as dividends.

Source: Globe and Mail

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