High dividends are tempting but investors should be particularly attracted to stocks that offer decades of proven dividend growth. Let’s look at 2 today.
Canadian National Railway Company (TSX:CNR)(NYSE:CNI) is a Montreal-based freight company. The stock has increased 12.2% in 2017 and 15% year over year. CNR last released its second quarter results on July 25. Profits climbed 20% to $1.03 billion and revenues increased 17% to $3.3 billion.
Like other manufacturing and rail companies CNR has faced challenges from the higher Canadian dollar. The stock offers a dividend of $0.41 per share representing a dividend yield of 1.6%. It has delivered 21 years of dividend-growth and counting.
Montreal-based food retailer Metro Inc. (TSX:MRU) was up 0.91% as the noon hour came to a close on October 11. Shares are up 4.8% in 2017 and 2.3% year over year. Metro recently announced the $4.5 billion acquisition of Canadian drugstore chain Jean Coutu Group PJC Inc.
Metro also released its third quarter results on August 15. Net earnings were up 8.3% to $183 million and sales climbed 1.4% to $4.07 billion, same-store sales were down marginally – 0.2%. The company announced on October 11 that it would eliminate 280 jobs starting in 2021, officially as part of a modernization initiative. Metro has been vocal about the rise in operating costs following the Ontario minimum wage hike coming in January of 2018 and 2019.
Metro boasts a dividend of $0.13 per share with a 2.1% dividend yield. The company has delivered dividend-growth for 22 years.