Dividend Watchdog

SNC Lavalin Dividend Increase

2012-03-26T17:57:00.000-06:00

The board of directors of SNC-Lavalin has increased the quarterly cash dividend by 4.8% to $0.22 per share.

There's plenty of drama to be had with SNC-Lavalin these days. The CEO Pierre Duhaime stepped down amid allegations he allowed a series of unauthorized payments of $56-million to be made by a former vice president.

The current dividend payout ratio for SNC is 29% which is very low compared to most dividend payers. Looking back we can see that SNC has increased its dividend since 2000 according to the chart below.

Scotiabank Dividend Increase

2012-03-06T15:46:00.000-07:00

Scotiabank increased it's dividend today by 6%. The quarterly dividend went from $.52 cents to $.55 cents. BNS profit rose 15% this first quarter to 1.4 million compared to 1.25 million in 2011. Scotiabank is Canada's 3rd largest bank by assets at 1.44 billion. With the new dividend increase, BNS still has a dividend payout ration of 47% which says to me that there should be plenty of dividend increases down the road. Let's take a look Scotiabank's dividend history since 1996:

TD Dividend Increase

2012-03-01T21:41:00.000-07:00

TORONTO, March 1, 2012 /PRNewswire/ - The Toronto-Dominion Bank (the Bank) today announced that a dividend in an amount of seventy-two cents (72 cents) per fully paid common share in the capital stock of the Bank has been declared for the quarter ending April 30, 2012, payable on and after April 30, 2012, to shareholders of record at the close of business on April 4, 2012. This represents an increase in the quarterly dividend of 4 cents or 5.9 per cent compared with last quarter.

Despite a lower quarter profit then in 2011, TD managed to pop out a dividend increase. An almost 6% dividend increase still beats inflationary increases which average from 2-4% so it still looks good to me. Even with the new dividend increase, TD's dividend payout ratio is only 45% which looks very strong for future dividend increases. Let's take a look at TD's dividend history since 2000:

RBC Dividend Increase

2012-03-01T21:20:00.000-07:00

TORONTO, March 1, 2012 /CNW/ - Royal Bank of Canada (RY on TSX and NYSE) today announced an increase to its quarterly common share dividend of 3 cents per share or 6 per cent to 57 cents, payable on and after May 24, 2012, to common shareholders of record at the close of business on April 25, 2012.

RBC posted a 1.82 billion dollar first quarter profit today which was down slightly from 2011. With a dividend ratio of 71%, RBC will surely be able to keep up dividend payments. If not they will just have to increase user fees like they always do. Let's have a look at RBC's dividend history since 2000:

Telus Dividend Increase

2012-02-21T17:05:00.000-07:00

CALGARY, Feb. 21, 2012 /PRNewswire/ - NOTICE IS HEREBY GIVEN that the Board of Directors has declared a quarterly dividend of sixty-one cents ($0.61) Canadian per share on the issued and outstanding Common shares and sixty-one cents ($0.61) Canadian per share on the issued and outstanding Non-Voting shares of the Company payable on July 3, 2012, to holders of record at the close of business on June 8, 2012.

In the event that the proposed share conversion of Non-Voting Shares to Common Shares on a one-for-one basis receives all requisite approvals and is effective prior to the dividend record date of June 8, 2012, holders of record on such date who previously held Non-Voting Shares would hold Common Shares and would therefore receive the same dividend as all other holders of Common Shares.

This new quarterly dividend is a three cent or 5.2 per cent increase from the $0.58 quarterly dividends paid on January 3 and to be paid on April 2, 2012 and 10.9 per cent increase from the $0.55 quarterly dividend paid in July 2011.

Telus is Canada's third largest telecom company that has a major holding in western Canada. Telus has a current dividend payout ratio of 63%. Telus also raised its dividend twice last year, but its prior dividend growth looks like a can of smashed A-holes. Take a look for yourself in the chart below:

Coca Cola Dividend Increase

2012-02-19T15:55:00.000-07:00

ATLANTA (Business Wire) -- The Board of Directors of The Coca-Cola Company today approved the Company's 50th consecutive annual dividend increase, raising the quarterly dividend 8.5 percent from 47 cents to 51 cents per common share. This is equivalent to an annual dividend of $2.04 per share, up from $1.88 per share in 2011. The first quarterly dividend is payable April 1, 2012, to shareowners of record as of March 15, 2012.

The increase reflects the Board's confidence in the Company's long-term cash flow. The Company returned $8.6 billion to shareowners in 2011, through $4.3 billion in dividends and $4.3 billion in share repurchases.

Coca-Cola has paid dividends consecutively every year since 1920 and with a current dividend yield of 52%, KO will be able to easily maintain its dividend for a long time. Here's a look at KO's stock split adjusted, dividend payment history since 1997:

TransCanada Dividend Increase

2012-02-16T21:49:00.000-07:00

CALGARY, ALBERTA--(Marketwire - Feb. 14, 2012) - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that the Board of Directors (Board) of TransCanada declared a quarterly dividend of $0.44 per common share for the quarter ending March 31, 2012 on the Company's outstanding common shares, a five per cent increase over the $0.42 per share paid in each of the previous four quarters. The common share dividend is payable on April 30, 2012 to shareholders of record at the close of business on March 30, 2012.

Even with the problems of the Keystone Pipeline, TransCanada was able to increase their dividend by 5% today. The current dividend payout ratio for TRP is 83% which is a little high for my liking. This is the 12th consecutive dividend increase since 2000 when TransCanada cut its dividend by 29% as seen in the chart below:

Shoppers Drug Mart Dividend Increase

2012-02-09T20:52:00.000-07:00

ANNUAL DIVIDEND INCREASED BY 6.0% TO $1.06 PER SHARE
RENEWAL OF SHARE REPURCHASE PROGRAM

TORONTO, Feb. 9, 2012 /CNW/ - Shoppers Drug Mart Corporation (TSX: SC) today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2011.

Fourth Quarter Year-Over-Year Highlights

Sales increase of 4.3% to $2.607 billion

Same-store increase of 3.4%

Pharmacy sales increase of 2.8% to $1.177 billion

Same-store increase of 2.3%

Prescription count increase of 3.9%

Same-store increase of 3.8%

Front store sales increase of 5.5% to $1.430 billion

Same-store increase of 4.4%

Net earnings per share of $0.82, an increase of 5.1%

Fiscal 2011 Highlights

Sales increase of 2.6% to $10.459 billion

Same-store increase of 1.9%

Pharmacy sales increase of 0.8% to $4.997 billion

Same-store increase of 0.6%

Prescription count increase of 3.8%

Same-store increase of 3.8%

Front store sales increase of 4.4% to $5.462 billion

Same-store increase of 3.2%

Net earnings per share of $2.84, an increase of 4.4%
Declared four quarterly dividends of 25 cents per common share
Repurchased 5,202,100 common shares at an aggregate cost of $212 million

Shoppers announced that it increased its dividend by 6% today from $1.00 to $1.06 per share. SC has a dividend payout ratio of 36% and is currently yielding 2.60% with its new dividend increase. Since it started paying a dividend in 2005, Shoppers has managed to increase it every year even through the 2008-2009 melt down as shown in the chart below:

Metro Dividend Increase

2012-01-31T18:37:00.000-07:00

(Montreal, January 31, 2012) – METRO INC. (TSX : MRU.A) announced its results today for the first quarter ended December 17, 2011.
HIGHLIGHTS

Net earnings of $103.7 million, up 8.6%
Fully diluted net earnings per share of $1.01, up 11.0%
Sales of $2,711.7 million, up 3.4%
Same store sales up 1.7%
Declared dividend of $0.215 per share, up 11.7%
First financial statements prepared according to International Financial Reporting Standards (IFRS)

With over 600 food stores , Metro is a major competitor in the grocery and pharmaceutical sectors of Ontario and Quebec. MRU hit an all time high today with a closing price of $54.74 and its current yield with the new dividend is 1.57%. While Metro's dividend yield is always low, it has managed to increase it over the years and is truly a dividend growth stock. Here's a look at Metro's split adjusted dividend since 1997:

Potash Corp Doubles Dividend

2012-01-25T19:31:00.000-07:00

SASKATOON, Jan. 25, 2012 /PRNewswire/ - Potash Corporation of Saskatchewan Inc. (PotashCorp) announced today that its Board of Directors has approved an increase of the company's quarterly cash dividend (from $0.07 per share to $0.14 per share), and declared a quarterly cash dividend of US $0.14 per common share payable May 3, 2012 to shareholders of record on April 12, 2012.

"In addition to using our strong cash flow to grow our world-class fertilizer business, we have a proven track record of returning capital to our shareholders," said PotashCorp President and Chief Executive Officer Bill Doyle. "This announcement to double the dividend - the second time in the past year - reflects the confidence we have in the drivers of our business and our commitment to creating superior long-term shareholder value."

Although Potash Corp is not a strong dividend growth stock, it is definitely a growth stock to keep an eye on. The fertilizer products they produce are used by countries around the globe and their dividend is paid out in U.S dollars.

CN Dividend Increase

2012-01-24T17:56:00.000-07:00

MONTREAL, Jan. 24, 2012 /PRNewswire/ - CN (TSX: CNR) (NYSE: CNI) announced today that its Board of Directors has approved a 15 per cent increase in the Company's quarterly cash dividend. A quarterly dividend of thirty-seven-and-one-half cents (C$0.375) per common share will be paid on March 30, 2012, to shareholders of record at the close of business on March 9, 2012.

Luc Jobin, CN executive vice-president and chief financial officer, said: "We are rewarding our shareholders with another dividend increase, which demonstrates our confidence in CN's growth prospects and capacity to generate solid free cash flow consistently throughout business cycles."

This is the 16th consecutive dividend increase for CN since its IPO in 1995. One thing I like about railroads is that they perform well no matter what shape the economy is in. With a dividend expense ratio of 25%, CN's dividend will likely keep on chugging for years to come. Here's a look at CN's dividend history since 1996.

SHAW Dividend Increase

2012-01-12T17:30:00.000-07:00

CALGARY, ALBERTA--(Marketwire - Jan. 12, 2012) - Shaw Communications Inc. ("Shaw") (TSX:SJR.B) (NYSE:SJR) announced today that its Board of Directors has increased the equivalent annual dividend rate to $0.97 on its Class B Non-Voting Participating Shares and $0.9675 on its Class A Participating Shares. This represents an increase of 5% or $0.05 per share. Shaw's dividends are declared and paid on a monthly basis and this increase will commence March 29, 2012.

Some investors are concerned with the amount of money the Shaw brothers have been taking out of the company for their executive pay. They justify their wages by comparing SHAW with what other larger companies pay their executives. The share price hasn't moved over the past few years and even though they keep increasing their dividend, it's not going to last if the Shaw brothers run Daddy's company into the ground.

ATCO Dividend Increase

2012-01-12T16:53:00.000-07:00

CALGARY, ALBERTA--(Marketwire - Jan. 12, 2012) - The Board of Directors of ATCO Ltd. today declared a first quarter dividend of 32.75 cents per Class I Non-Voting (TSX:ACO.X) and Class II Voting share (TSX:ACO.Y), a 15% increase over the 28.5 cents paid in each of the previous four quarters. The dividend is payable March 31, 2012, to shareholders of record on March 9, 2012.

ATCO class B non voting shares were created on November 19, 1973. Taking a look at the dividend for the last 12 years we can see that it has been increased every year in that time period.

Nal Energy Cuts Dividend

2012-01-12T16:24:00.000-07:00

CALGARY, ALBERTA--(Marketwire - Jan. 11, 2012) - NAL Energy Corporation (TSX:NAE) ("NAL" or the "Corporation") announces that it will be meeting with the investment community in Calgary, Alberta today at 2:00 pm MST to outline details of NAL's 2012 guidance with a focus on the Corporation's operating plan, key plays and prospects, and financial assumptions.

MONTHLY DIVIDEND

NAL's 2012 plan targets a dividend payout ratio of approximately 35 percent of current year cash flow. This objective balances the development of the Corporation's extensive inventory of light oil opportunities, maintains a competitive dividend and retains financial flexibility.

In light of the current weak AECO natural gas price and uncertain economic outlook for 2012, the Board of Directors has decided to reduce NAL's monthly dividend to $0.05 per share from $0.07 per share effective with the January dividend payable in February, 2012.

NAL's business plan for 2012 improves the sustainability of the Corporation for the long-term and preserves the balance sheet for acquisition opportunities that will create incremental value for our shareholders.

Corus Entertainment Dividend Increase

2012-01-10T18:32:00.000-07:00

Corus Entertainment Announces Fiscal 2012 First Quarter Results
• Monthly dividend increased by 10%
• Consolidated revenues up 7% and segment profit up 1%
• Television revenue up 10% and segment profit maintained
• Radio revenue down 5% and segment profit down 11%
• Net income attributable to equity shareholders from continuing operations up 9%

(January 10, 2012 – Toronto, Canada) Corus Entertainment Inc. (TSX: CJR.B) announces its first quarter financial results.

“We are very pleased with our Q1 results and in particular, the renewed signs of strength we witnessed in the ad economy,” said John Cassaday, President and CEO of Corus Entertainment. “Double digit ad sales growth for our Women’s networks, continued growth on our Kids business powered by strong merchandising sales and strong evidence of a turnaround underway in our Vancouver Radio cluster, are all positive indicators that we are poised to achieve our growth targets in fiscal 2012.”

With the latest dividend increase, CJR.B is now paying $0.24 cents a share per quarter. Corus Entertainment started paying a semi-annual dividend in December of 2003. In December of 2006 they began paying a quarterly dividend and have increased it every year except in 2010. By looking at this chart, we can follow the dividend of CJR.B from 2003 to the present: