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I’ve updated the Canadian Dividend All-Star List for the month. You can download the latest version here. Each month I go through the list of companies and see if any of them have increased their dividend. The Canadian Dividend All-Star List uses the record date to determine the dividend streak. Often the dividend increase is announced before the record date, so some of my announcements may be old news. Because of the number of companies I track it’s not practical to comment on each increase when it happens, so instead I like to do a monthly summary.
Of the 10 companies that had a record date in April 2013 only one company increased its dividend. This is a steep drop off from last month when 12 of 26 companies recording dividends in March 2013 increased their dividend. This month, Stella Jones increased its quarterly dividend from $0.16 to $0.20 which represents a 25% increase. 2013 will be Stella Jones’s 9th consecutive year of increasing dividends should it continue to make dividend payments for the rest of the year (I update dividend streaks at the end of the year, so the Canadian Dividend All-Star List currently shows 8 years). While a 25% increase is impressive their forward dividend yield is still only 0.98% as of April 30, 2013. This is well below my minimum dividend yield of 2-2.5% set out in my dividend growth investing criteria. It’s always nice to see big dividend increases, but I’m looking for a decent yield as well so that I can eventually live off of my dividends.
⭐ Find dividend growth stocks that have survived multiple recessions and increased dividends for 5, 10, 25+ years in a row.
Occasionally low yielding companies that have high dividend growth rates will fall out of favor, their price will drop, and their yield will get up to 2-2.5% or higher. When this happens it can be a good time to buy because you get a decent yield and a high rate of dividend growth. These opportunities don’t come around very often, which is why I like to keep a watch-list of all the companies I’m interested in and my target buy prices.
And now for a housekeeping note. In the April 30, 2013 version of the Canadian Dividend All-Star List I have adjusted the information for Telus to reflect a 2:1 split. You’ll see I’ve also made a note of this in the Revisions tab of the Canadian Dividend All-Star List. It can be difficult tracking 50 or so companies and I expect that in the future I’ll miss some splits, but I’m a Telus shareholder (check out my portfolio page to see what stocks I own) so I was aware of the 2:1 split this time. If you hear of any stock splits or dividend cuts for any of the companies in the Canadian Dividend All-Star List please let me know. I do my best to keep the information accurate and up to date, but I am human and I expect to make some mistakes. Hopefully with your help I can keep these to a minimum. Thanks!
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Appreciate that you’re keeping this up-to-date! I would love for you to post on what sorts of things you do to keep the list up-to-date or which companies you have on the watch list.
Every month I go through all the companies that recorded a dividend and check for any increases that need to be updated in the list. The dividend streaks I don’t actually update until the end of the year, once I can verify that the company has actually paid out more dividends in total than the previous year. Eventually this may change and I may update the streaks when the company records a dividend. I’m still figuring out the best way to track potential additions to the list, but at this point it is still trial and error. I like the idea of eventually having another tab that shows companies with 3 or 4 years of streaks, but this is at least a few months away. I’m basically living out of a van while I travel around Australia with my girlfriend. We’re going to south east Asia shortly for a few months too. It’s been difficult to find solid Internet time while on the road, so there won’t be significant changes to the list for a few months atleast. I’m also considering adding in the low prices for the past 10 years so that people can easily see the 5 and 10 year high dividend yield averages. This is probably a few months away too. I’ll see if I can write a post which explains the process in a bit more detail. Thanks for the article idea.
Thanks for all your work. I found this through a link on Seeking Alpha. Super excited to have this as a new resource. thanks again.