Canada has two Dividend Aristocrats in 2023 with Fortis and Canadian Utilities

Dividend Champions from Canada

Apart from the United States there are hardly any Dividend Aristocrats elsewhere in the world. Canada, for example, only has ten at the moment, with two companies topping the bill with 50 years of increased dividends.

So there are currently 10 Dividend Aristocrats in Canada with 25 or more consecutive years of increased dividends. Two companies stand out with more than 50 consecutive years of dividend growth and they are both utility companies. We are talking about Fortis Inc and Canadian Utilities.

  • Fortis Inc.
    • 50 consecutive years of dividend growth
    • 2023 dividend hike: +4.4%
    • Dividend yield: 4.6% at a stock price of C$ 50.63
Fortis Inc. is a Canada-based diversified regulated electric and gas utility holding company. The Company's regulated utility businesses includes ITC Investment Holdings Inc., ITC Holdings Corp. and the electric transmission operations of its regulated operating subsidiaries
  • Canadian Utilities Ltd.
    • 52 consecutive years of dividend growth
    • 2023 dividend hike: +1.0%
    • Dividend yield: 6.3% at a stock price of C$ 28.60.
Canadian Utilities Limited is a Canada-based diversified global energy infrastructure company. The Company is engaged in three business activities: Utilities, Energy Infrastructure and Retail Energy.

So we now officially have two Canadian companies with 50+ years of dividend growth since Fortis hiked the dividend earlier in 2023. Based on dividend yield Canadian Utilities ranks number one, but based on dividend growth Fortis has shown some better stats over the last couple of years, consistantly doing better on that front than Canadian Utilities.

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