Below is a list of companies in Canada and the United States that have increased their dividends in the month of February.
The companies we list are not the complete list of companies that have increased their dividends in Canada and the United States or the rest of the world however, they are companies we follow or own.
Canadian Companies
| Company | Previous ($) | New ($) | Change (%) |
| BCE | 0.775 | 0.9975 | 3.10 |
| Great-West Lifeco | 0.520 | 0.555 | 7.00 |
| Restaurant Brands Intl | 0.550 | 0.58 | 5.50 |
| Toromont Industries | 0.43 | 0.48 | 11.60 |
| TC Energy | 0.93 | 0.96 | 3.20 |
US Companies
| Company | Previous ($) | New ($) | Change (%) |
| 3M | 1.50 | 1.51 | 0.70 |
| Church & Dwight | 0.2725 | 0.28375 | 4.00 |
| Coca-Cola | 0.46 | 0.485 | 5.40 |
| Gilead Sciences | 0.75 | 0.77 | 2.70 |
| Hershey | 1.192 | 1.37 | 14.9 |
| Home Depot | 2.09 | 2.25 | 7.70 |
| PepsiCo | 1.15 | 1.265 | 10.0 |
| Sherwin-Williams | 0.605 | 0.715 | 18.2 |
| Walmart | 0.57 | 0.83 | 9.2 |
The dollar value listed per share represents a quarterly dividend payment.
Information was obtained from the companies directly.
Inaugural Dividend Announcements
- Meta declared their first ever dividend, a payout of 50 cents per share.
- Salesforce initiated a quarterly dividend of $0.40 per share.
History of Home Depot
In 1978, two men named Bernie Marcus and Arthur Blank met in a coffee shop in Los Angeles and together they conceived the idea of The Home Depot. Marcus and Blank loved to do home repair and improvement projects and dreamt of a superstore that offered a wide range of great priced merchandise that was staffed with knowledgeable individuals that could walk customers through how to do most projects.
A year after the idea came to be, Marcus and Blank opened the first two locations with the support of an investment banker named Ken Langone and a merchandising expert named Pat Farrah. The first two stores were 60,000 square foot warehouses in Atlanta, Georgia. Not only did The Home Depot have little competition due to the large quantity and variety of items offered, but it also set itself a part due to the well-trained floor associates.
In 1981, The Home Depot went public on the NASDAQ for $12 USD per share and since then the company has grown exponentially. Today, there are more than 2,300 stores in three different countries. The Canadian division was created in 1994 when Aikenhead’s Home Improvement Warehouse stores were acquired which were then owned by Molson Companies. The first Canadian locations were in the Greater Toronto Area and grew to become one of Canada’s leading retailers with its first western Canadian store in Edmonton, Alberta.
As of February 29th, 2024, the stock price of Home Depot was $380.61 USD. With an annual dividend of $9.00, the current dividend yield is 2.35%. If you had purchased a share of Home Depot when it went public in 1981 for $12.00 and never sold it, your dividend yield on cost would be 75% and you would have an unrealized capital gain of $368.61 which is a 3072% rate of return. You would have also received a total of $58.55 (between the years of 1981 and 2023) per share of dividend income. Home Depot provides us with goods and services that we need and use every day. It is a strong company that has been able to consistently grow their revenue. Not only do we benefit from their in-store offerings, shareholders are also rewarded with growing dividends that supplement their income.
Company History
If you are interested in reading more about the history of some of these strong dividend paying companies, please take a look at our previous blog posts linked below: