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Canadian Dividend All-Stars – Week of September 20

Posted on September 21, 2021 by Mathieu Litalien

There wasn’t much action last week as investors are still easing back into the markets. We are also seeing September living up to its reputation as one of the worst months in terms of stock performances. As of writing, the S&P/TSX is down by about a percentage point and we are only about half way through the month.

The good news, is that dividend investors can sit back and collect their passive income from Canadian dividend stocks while they wait for the markets to rebound. This week, there is one Canadian Dividend All Star scheduled to raise dividends but before we get to that, let’s recap the action from last week.

All figures are in Canadian dollars unless otherwise noted.

Recent Canadian dividend stock updates

In our last update, there was only one company that was on tap to raise dividends. Like clockwork, Savaria (TSE:SIS) came through for investors.  

Company

EST DGR

EST Increase

Actual DGR

Actual Increase

New Div

SIS

~5%

$0.002

4.25%

$0.0017

$0.0417

As I discussed last week, Savaria’s dividend growth rate was on the decline. This was due in large part to the uncertainty of the pandemic, and some recent acquisitions.

In fact, I expected this year’s dividend growth to be inline with last year’s given they just made the largest purchase in their history. Sure enough, the 4.17% raise was right inline with expectations.

With the raise, Savaria has extended its growth streak to nine years and is but a year shy of achieving a decade’s worth of dividend growth.

Speaking of dividend growth, if you wish you can check out 2 of Canada's best dividend growth stocks to buy today.

Upcoming dividend raises, cuts or suspensions

Emera (TSX:EMA)

Current Streak: 14 years

Current Yield: 4.34%

Earnings: N/A

What can investors expect: Utilities own some of the longest dividend growth streaks in the country and at 14-years long, Emera (TSE:EMA) is in the top third in the country.

Emera typically makes their annual dividend growth announcement independent of earnings in mid-to-late September. Given this, the raise is likely to come this week and if not, in the week that follows.

While there was a time when Emera was rewarding investors with a double-digit growth rate, as the company has matured its dividend growth rate has slowed.

The good news is that investors are never kept in the dark as the company routinely provides dividend growth guidance. This is important and an aspect that dividend growth investors are sure to appreciate. 

Today, the company has a targeted dividend growth rate between 4-5% and investors can expect the announcement to be inline with guidance.

EST DGR

EST Increase

New Div

4-5%

$0.0255-0.0325

$0.668-0.675

Disclaimer: The writer of this article or employees of Stocktrades Ltd may have positions in securities listed in this article. Stocktrades Ltd may also be compensated via affiliate links in the post below.

Mathieu Litalien

About the author

Mathieu is an individual investor and has been investing part-time for the better part of the past 20 years. He is primarily interested in fundamental analysis, focusing on the long-term and his portfolio is composed primarily of dividend-paying equities. Mathieu has a moderate risk profile and also looks for growth and value. His passion for finance and the markets have led him to his MBA and writing for Seeking Alpha and Stocktrades. Mathieu also focuses primarily on stock research and content production for Stocktrades.ca Premium and the Stocktrades blog.