3 Canadian Dividend Stocks With Top Payout Growth Rates

The Canadian dividend stocks on our list have experienced the best dividend growth rates during the past five years

SmallCapPower | July 20, 2020: Publicly-traded companies with a history of increasing dividend payouts tend to outperform other dividend stocks with little, or no, annual dividend increases. Today we have discovered three Canadian dividend stocks with the best dividend growth rates during the past five years.

*Returns are based on closing stock prices as of July 17, 2020

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goeasy Ltd. (TSX:GSY) – $53.61
goeasy is a Canada-based, full-service provider of alternative financial services and has two main business segments: easyfinancial and easyhome. The easyhome segment provides consumer loans for furniture, electronics, computers and appliances, which are offered under weekly or monthly leasing agreements. The easyfinancial segment is its financial services arm, operating in the non-prime consumer lending marketplace. easyfinancial is focused on providing consumer installment loans. The Company operates approximately 200 easyfinancial locations and over 180 easyhome stores across Canada. goeasy has grown its dividend by 39.7% over the past five years. GSY stock has a current yield of 3.4%.

  • Five-Year Return: 221% (Excluding dividends)

Tecsys Inc. (TSX:TCS) – $29.18
Tecsys is a global provider of supply chain solutions. Spanning healthcare, retail, service parts, third-party logistics, and general wholesale high-volume distribution industries, Tecsys delivers solutions for warehouse management, distribution and transportation management, supply management at point of use, retail order management, as well as financial management and analytics solutions. The Company announced recently that its Fiscal 2020 revenue exceeded $100 million for the first time, up 37% from last year. Tecsys has grown its dividend by 24.9% over the past five years. TCS stock has a current yield of 0.8%.

  • Five-Year Return: 232% (Excluding dividends)

Alimentation Couche-Tard Inc. (TSX:ATD.B) – $46.39
Alimentation Couche-Tard operates and licenses 12,575 convenience stores globally. Its convenience stores sell tobacco products, grocery items, beverages, and fresh food offerings; road transportation fuel; and stationary energy, marine fuel, aviation fuel, and chemicals. The Company operates its convenience stores chain under various banners, including Circle K, Corner Stone, Couche-Tard, Holiday, Ingo, Mac’s, ReStore, and Topaz.  Alimentation Couche-Tard’s Fiscal 2020 net earnings per share increased 29% to $2.09, while its annual dividend rose 17.8%. The Company has grown its dividend by 22.1% during the past five years. ATD.B stock has a current yield of 0.6%.

  • Five-Year Return: 65% (Excluding dividends)

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

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