The Bank of Canada has reduced its benchmark rate to 2.75% of 5% in April 2024. Moreover, economists are still predicting two tariff reductions this year and expect the benchmark interest to fall to 2.25%. In this low interest rate, investors can look at the acquisition of quality dividend shares to stimulate their passive income. In the meantime, dividends are not guaranteed and are dependent on the performance of the company and the macro -economic environment. That is why investors must be careful when buying dividend shares and looking at shares with solid underlying companies and an excellent track record of dividend growth.
Let’s look at this background at my three picks that have consistently increased their dividends with healthier percentages.
Telus
Telecommunication services have become essential in today’s digital world. Their recurring income flows deliver stable and reliable cash flows, allowing them to reward their shareholders with consistent dividend growth. That’s why I chose Telus (TSX: T), One of Canada’s three leading telecom players, as my first choice. Telco, based in Vancouver, has raised its dividends 28 times since May 2011. It currently pays an annual dividend payment of $ 1.665/share, which translates into a progressive dividend yield of 7.45%.
Moreover, the company continues to expand its customer base in the midst of its mandatory bundled services and the expansion of Purefibre connectivity. Furthermore, the company is planning to invest around $ 70 billion in the coming five years to expand its 5G and broadband connectivity. The company is also working on strengthening its balance. It recently agreed to sell an interest of 49.9% in its newly formed wireless tower infrastructure company, Terrion, to La Caisse for $ 1.26 billion. In the midst of this Deleveraaging initiative, the company expects its net debt-to-etitda (profit for interest, taxes, depreciation and amortization) to bring a relationship to three.
Given his healthy growth prospects and improving the financial position, Telus could continue with his dividend growth. In the meantime, the management of the company expects to increase its dividend annually by 3-8% from 2026 to 2028. Moreover, the company is currently acting on a reasonable NTM (next-12 months) Enterprise Value-to-Bitda plural of 8.4, making it an excellent purchase.
Canadian natural resources
Another Canadian share that has consistently increased its dividends with a higher rate is Canadian natural resources (TSX: CNQ). The Calgary-based oil and natural gas producer has uninterrupted its dividends over the past 25 years by an annual percentage of 21%. The diversified and balanced activities, high-quality reserves, lower capital reinvestment requirements and effective and efficient activities have fallen its break life price. That is why the company enjoys healthy financial data and cash flows, so that it can consistently increase its dividends, with its forward dividend yield currently at 5.70%.
Moreover, CNQ has large reserves, with a total proven reserve life index of 32 years. Furthermore, these reserves consist of high -quality SCO (synthetic crude oil), light crude oil and NGLs (natural gas fluids). Moreover, the company strengthens its production options through a capital investment of $ 6 billion for this year. Given these growth initiatives, I expect that CNQ is well equipped to continue to pay dividends at a healthier rate.
pushy
I chose pushy (TSX: GSY), which has increased its dividend with a CAGR of 29.5% (composite annual growth rate) during the past 11 years, as my last choice. Since the start of its customer sector in 2006, the Subprime-money shooter established in Mississauga has expanded his credit portfolio to $ 5.1 billion at the end of the second quarter of 2025. These extensions have increased the top and bottom lines, while healthy cash flows are generated. These reliable cash flows have enabled the company to increase its dividend at a healthier rate, with its Forward Dividend Evening currently at 2.79%.
In addition, Goeasy continues to expand its loan portfolio by launching new customer acquisitions by launching innovative products, taking new markets, implementing strategic initiatives and adding new delivery channels. The management of the company predicts that its credit portfolio will reach $ 7.35- $ 7.65 billion by the end of 2027, with the center of attention represents an increase of 48% compared to current levels. The top line could grow with an annual percentage of 11.4%, while the operational margin by the end of 2027 is improved to 43%. Given these healthy growth prospects, I believe that Goeesy could continue to increase its dividend in the coming years.
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