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Number Cruncher

Mid-caps take dividend aristocrat crown Add to ...

WHAT ARE WE LOOKING FOR?

Let's take a look at the S&P/TSX Canadian dividend aristocrats index and see which members have the highest yields.

MORE ABOUT TODAY'S SCREEN

S&P has calculated that dividends have contributed almost one-third of the total equity return of the S&P/TSX composite index since 1956.

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S&P defines a Canadian dividend aristocrat as a company or trust that has increased cash dividends or distributions annually for at least five consecutive years. The security must be listed on the Toronto Stock Exchange and have a minimum market capitalization of $300-million. Members are generally added and deleted once a year in December. The index is adjusted on a monthly basis so that no stock may be weighted greater than 8 per cent of the index and no trust more than 5 per cent. The Claymore S&P/TSX Canadian Dividend exchange traded fund is designed to track this index.

The index currently has 39 members. We'll sort the list today by highest yield.

WHAT DID WE FIND?

A few years ago, this list was dominated by banks and insurance companies. Without the big finance services members, it is a mixed bag of mostly mid-cap names across a broad selection of sectors, led by energy at 28 per cent, industrials 15 per cent, consumer discretionary stocks at 14.4 per cent and financials 13 per cent.

 

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