Canadian Dividend All-Stars For The Week Of Nov. 30

This coming week we head into bank earnings season. Typically, it is an exciting time for dividend growth investors and those who own Canadian dividend stocks.

Unfortunately, it won’t be this year (more on that later).

This week, investors can expect only one Canadian Dividend All-Star to come through with their annual raise. Before we get into that, let’s take a quick look at what happened over the past couple of weeks.

Of note, all figures are in Canadian dollars unless otherwise noted.

Recent dividend updates

In our last update, we weren’t expecting any action from Canadian Dividend All-Stars.

However, we had two pleasant surprises as George Weston (TSX:WN) and Alimentation Couche-Tard (TSX:ATD.B) both announced dividend raises.

Company

EST DGR

EST Increase

Actual DGR

Actual Increase

New Div

George Weston

~5%

$0.025

4.76%

$0.025

$0.55

Alimentation Couche-Tard

N/A

N/A

25.00%

$0.0175

$0.0875

Let’s start with George Weston. The company typically announces its annual raise in May of each year. However, uncertainty caused by the pandemic led to George Weston forgoing their annual dividend raise this past spring.

Fast forward November 17, 2020 and George Weston finally came through for investors after six quarters of dividend stagnation. The company announced a 4.76% raise to the dividend which is slightly below the company’s historical average for high, single digit dividend growth.

The raise will effectively extend the company’s dividend growth streak to nine years.

Turning our attention to Alimentation Couche-Tard, the company announced a surprise 25% raise to the dividend this past week. This mark’s the company’s second raise of the year as it had previously raised the dividend by 12% this past March.

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Disclaimer: The writer of this article may have positions in the securities mentioned in this article. The fact they hold positions in securities has had no impact on the production of this ...

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