Canadian All-Star Stocks: Dividend Increases - Week Of Aug. 10

Seeking AlphaDividend Quick Picks | Services  | CanadaCanadian All-Star Stocks: Dividend Increases - Week Of Aug. 10Aug. 7, 2020 9:47 AM ET|| About: Exchange Income Corporation (EIFZF), Includes: KEYUF, RBA, SAPIFby: Mat LitalienMat Litalien Value, Growth, macro, long-term horizonStocktrades.cls-1{fill:#024999;}SummaryCanadian Dividend All-Stars are companies that have raised dividends for at least five consecutive years.
Saputo and Ritchie Bros. Auctionneers both came through for shareholders last week.
Exchange Income Corp is on watch this week.
We are in the middle of earnings season, and once again there are several Canadian Dividend All-Stars scheduled to report earnings. Of those, only one is due to announce a dividend raise.
Before we jump into what to expect this week, let's look at last week's results. Of note, all figures are in Canadian dollars unless otherwise noted.
Recent dividend updates
Normalcy is quietly returning to the markets as the pace of dividend growth is beginning to outpace cuts. This is great news for dividend growth investors who spent the better part of the last quarter on edge. Last week was another strong one.
As expected Ritchie Bros. Auctioneers (RBA)[TSX:RBA] and Saputo (OTCPK: SAPIF)[TSX:SAP] both came through for investors.
On the flip side, Keyera Corp (OTCPK: KEYUF)[TSX:KEY] and Stingray Digital Group [TSX:RAY.A] both kept the dividend steady. Although it might be disappointing, keeping the dividend steady was the most likely course of action for these two All-Stars.
Taking a cautious approach was the appropriate course of action. They still have plenty of time to raise the dividend and keep the streak alive. In fact, anything other than a dividend cut in this environment can be considered a win.
EST
DGR
EST
Increase
ACTUAL
DGR
ACTUAL
Increase
NEW
DIV
Ritchie Bros.
5%
$0.01`
10.0%
$0.02
$0.22
Saputo
2.94%
$0.005
2.94%
... Read more