Business & Investment

Three TSX shares raise dividends in 2021

In 2021, there will be no shortage of dividend increases at TSX. Despite this year’s recession, Canada’s largest companies appear to be trying to keep up with the next dividend stream. Below are three TSX companies that have announced dividend increases over the next year.


Embridge (TSX: ENB)(NYSE: ENB) Is an energy stock that has reached a very difficult year in 2020. Like most energy companies, it struggled due to reduced oil demand during the COVID-19 pandemic. In the first quarter, it lost a significant $ 1.4 billion. This was primarily due to non-cash factors such as derivative losses. Without it in the equation, there would have been a profit of $ 1.6 billion. Second-quarter earnings fell slightly. In the third quarter, it increased slightly.

Overall, this year was a bit of a wash for Embridge. But it wasn’t as bad as other energy companies.Recently announced 3% Dividend increase. If you own the shares by February 12, the dividend will be paid on March 1.


Dararama (TSX: DOL) It is a very strong retail stock in COVID-19. In the most recent quarter, sales increased 12.3%, same-store sales increased 7.1%, and net income increased 18.2%. All of these are solid earnings indicators for the COVID-19 era. The company also reported a solid increase in revenue in the early months of the pandemic, but revenue fell due to pandemic payments and other COVID-19 costs.

Dararama 6.8% dividend increase In its third quarter earnings report. Dividends will be paid on February 5th. You must own the shares by January 8 to receive the dividend.

Canadian tire

Canadian tire (TSX: CTC.A) is another Canadian stock that will raise dividends next year. The company had a fierce down and up ride in the COVID-19 pandemic. In the first quarter of the pandemic, we lost money due to lower gas sales and shopping restrictions. However, the company made a big turnaround in the third quarter. That quarter, Canadian Tire reported an 18% increase in same-store sales and a 42% increase in normalized EPS.

This is due to a 180% year-on-year increase in e-commerce sales. Consumers have used the Internet to do shopping that cannot be done in stores. This helped Canadian Tire’s net profit.

Based on recent results, Canadian Tire has increased its dividend by 3.3%. It’s not a big dividend increase, but it’s something. The company’s share price has risen 132% since March and is weeping. Therefore, even with future dividend increases, we should have been able to get higher yields earlier this year than next year. Nevertheless, the CTC.A dividend increase shows confidence in the company’s future growth and prosperity. It’s definitely a top TSX dividend stock worth owning.

By the way, if you are looking for great stocks, consider these:

Just released! 5 shares under $ 49 (free report)

Motley Fool CanadaThe team that is sweeping the market has released a new free report revealing five “dirt cheap” shares that can be purchased today for less than $ 49 per share.
Our team considers these five stocks to be very undervalued, but more importantly, Canadian investors can quickly make big bucks.
Do not miss it! Just click the link below to get a free copy and find all 5 stocks right now.

Request a free 5 share report now!

Stupid contributor Andrew Button There are no positions in any of the listed stocks. Motley Fool owns and recommends a stake in Enbridge.

Three TSX shares raise dividends in 2021 Three TSX shares raise dividends in 2021

Back to top button