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Canadian All-Star Stocks: Dividend Increases - Week Of Oct. 19

Published Sat, 17 Oct 2020 01:50:05 -0400 on Seeking Alpha

Seeking AlphaDividend Quick Picks | CanadaCanadian All-Star Stocks: Dividend Increases - Week Of Oct. 19Oct. 17, 2020 1:50 AM ET|| Includes: CWYUF, KL, TFIIby: 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.
Kirkland Lake Gold adds to my thesis that gold stocks are becoming more reliable income stocks.
TFI International is the next All Star on tap to raise dividends this week.
After a short trading week on the TSX Index, earnings season is about to ramp up in a big way. This week, several All Stars are scheduled to release quarter results but only one is on tap to announce a dividend raise.
Before we jump into that, let's quickly recap last week's activity.
Of note, all figures are in Canadian dollars unless otherwise noted.
Recent dividend updates
Once again, there is no update to share from last week. SmartCentres REIT (OTCPK: CWYUF) [TSX:SRU.UN] did not declare its monthly dividend, which means the announcement will come this week.
Of note, I spent some time last week talking about gold stocks and how they have become viable income plays. Worth noting, Kirkland Lake Gold (KL)[TSX:KL] announced a 50% raise to the dividend last week.
It marks the fourth consecutive year of dividend growth for Kirkland Lake, and it is on pace to become an All-Star in 2022. Assuming it achieves this mark, Kirkland Lake will be the first gold stock to achieve Aristocrat status in almost a decade.
Upcoming dividend raises, cuts or suspensions
TFI International (TFII) [TSX:TFII]
Current Streak: Nine years Current Yield: 1.60% Earnings: Thursday, October 22 What can investors expect: TFI International is a leading trucking and logistics company. The company is on the verge of achieving a decade of dividend growth and typically raises along with third-quarter results.
TFI International has... Read more