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Canadian companies are spending the fourth quarter in confident, dividend-raising mode after a spring and summer of pandemic-related caution, cuts and cancellations.

Giants like Enbridge Inc., Dollarama Inc., Mullen Group Ltd. and AltaGas Ltd. all joined the list of hikers in just the past week-plus. But they have plenty of company: A search of dividend-related announcements in the S&P Global Market Intelligence database shows 47 companies with their primary stock listing on the TSX announced dividend increases since Oct. 1 alongside reporting third-quarter results. Of those, 29 are on large enough to be on the S&P/TSX Composite.

That’s roughly the same as the number of dividend increases for the second and third quarters combined: Just 19 companies (13 Composite) announced hikes in 2Q, and 27 (16 Composite) made dividend-boosting announcements in the quarter ended Sept. 30.

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Broadly, the companies are reversing a trend of dividend cuts earlier in the year. From April 1 to Sept. 30, 73 companies – 18 of them on the Composite - announced dividend cuts, suspensions or cancellations, according to S&P Global Market Intelligence.

A separate analysis performed in the S&P Global Market Intelligence database found primary-listed stocks in the S&P/TSX Composite paid about $60 per share in dividends, in the aggregate, in 2019′s fourth quarter. That number fell to about $45 in the second and third quarters of 2020.

The following is a list of TSX companies that S&P Global Market Intelligence noted as making announcements of dividend increases so far in the fourth quarter. The list doesn’t include companies that have their primary stock listing on an exchange in the U.S. or elsewhere outside Canada.

CompanyDividend Announcement
Emera Inc.EMA-TOct. 2
The Keg Royalties Income Fund KEG-UN-TOct. 13
TFI International Inc.TFII-TOct. 22
Savaria Corp.SIS-TOct. 23
Husky Energy Inc.HSE-TOct. 26
Element Fleet Management Corp.EFN-TOct. 27
Cogeco Communications Inc.CCA-TOct. 28
PFB Corp.PFB-TOct.29
Yamana Gold Inc.YRI-TOct.7 and Oct. 29
First Capital REITFCR-UN-TNov. 3
Brookfield Renewable Corp.BEPC-TNov. 4
Pan American Silver Corp. PAAS-TNov. 4
Tourmaline Oil Corp.TOU-TNov. 4
Barrick Gold Corp.ABX-TNov. 5
Canadian Tire Corp. Ltd.CTC-A-TNov. 5
Kirkland Lake Gold Ltd. KL-TOct. 13 and Nov. 5
Norbord Inc.OSB-TNov. 5
High Liner Foods Inc.HLF-TNov. 6
TELUS Corp.T-TNov. 6
Canaccord Genuity Group Inc. CF-TNov. 7
Hardwoods Distribution Inc.HDI-TNov. 9
Wheaton Precious Metals Corp.WPM-TNov. 9
Leon's Furniture Ltd.LNF-TNov. 10
Linamar Corp. LNR-TNov. 10
Boyd Group Services Inc.BYD-TNov. 11
Pizza Pizza Royalty Corp. PZA-TNov. 11
Corby Spirit and Wine Ltd.CSW-A-TNov. 12
Intertape Polymer Group Inc.ITP-TNov. 12
Sprott Inc.SII-TNov. 13
InterRent REITIIP-UN-TNov. 13
First National Financial Corp.FN-TNov. 16
Goodfellow Inc. GDL-TNov. 16
Flagship Communities REITMHC-U-TNov. 17
George Weston Ltd.WN-TNov. 17
Alamos Gold Inc. AGI-TOct. 28 and Nov. 24
Alimentation Couche-Tard Inc. ATD-B-TNov. 24
BRP Inc.DOO-TNov. 25
Tecsys Inc. TCS-TDec. 2
Top 10 Canadian Financial Trust TCT-UN-TDec. 3
Dundee Precious Metals Inc.DPM-TDec. 8
Enbridge Inc. ENB-TDec. 8
Dollarama Inc. DOL-TDec.9
Evertz Technologies Ltd.ET-TDec. 9
AltaGas Ltd. ALA-TDec. 10
BMTC Group Inc.GBT-TDec. 10
Mullen Group Ltd. MTL-TDec. 10
Waterloo Brewing Ltd. WBR-TDec. 10

Source: S&P Global Market Intelligence

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