3 Canadian Dividend Stocks with Top Payout, Cash-Flow Growth

The Canadian dividend stocks we’ve found have a history of cash flow and payout growth

SmallCapPower | June 11, 2020: Dividends stocks are loved by income investors but some, especially ones with a history of increasing investor payouts, have enjoyed superior capital appreciation over the long term. Today we have identified three Canadian dividend stocks with top payout plus cash-flow growth over the past five years.

*Returns are based on closing stock prices as of June 10, 2020

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E-L Financial Corporation Limited (TSX:ELF) – $662
E-L Financial is an investment and insurance holding company with two operating segments: E-L Corporate and Empire Life. E-L Corporate represents investments in stocks and fixed income securities held directly and indirectly through pooled funds, closed-end investment companies and other investment companies. Empire Life has provided individual and group life and health insurance, investment and retirement products to Canadians since 1923. As of March 31, 2020, Empire Life had total assets under management of $16 billion. E-L Financial reported 2019 net income of $745 million, compared with $31 million in 2018. On March 3, 2020, the Company declared a special cash dividend of $25.00 per common share, in addition to the $1.25 quarterly common share dividend. ELF stock has a currently dividend yield of 0.7%.

  • 5-Year Dividend Growth: 36.4%
  • 5-Year Cash Flow Growth: 15.8%

Sylogist Ltd. (TSXV:SYZ) – $11.40
Sylogist is a software company that provides ERP and CRM solutions, including fund accounting, case management, grant management and payroll, to public service organizations. Sylogist’s public service customers include all levels of government, non-profit organizations, non-governmental organizations, educational institutions as well as public compliance driven and funded companies. On April 29, 2020, the Company reported second-quarter earnings that rose 19% year over year to $2.8 million. Sylogist also approved a 10% increase in its quarterly dividend to $0.11 per common share. SYZ stock has a currently dividend yield of 3.9%.

  • 5-Year Dividend Growth: 11.9%
  • 5-Year Cash Flow Growth: 11.9%
  • Year-To-Date Return: 18% (Excluding dividends)

Richards Packaging Income Fund (TSX:RPI.UN) – $63.50
Richards Packaging is a Canadian packaging distributor, the third largest in North America, targeting small- and medium-sized North American businesses.  Richards Packaging has operated since 1912 and currently serves over 14,300 regional companies from 18 locations throughout North America. The Company’s first-quarter 2020 revenue was up 33%, while net income for the period increased by $10 million. RPI units have a currently dividend yield of 2.1%.

  • 5-Year Dividend Growth: 10.5%
  • 5-Year Cash Flow Growth: 22.2%
  • Year-To-Date Return: 41% (Excluding dividends)

Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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