"Mergent Canadian Dividend Achievers™ Index"
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The Mergent Canadian Dividend Achievers™ Index tracks the companies that meet the requirements to be "Canadian Dividend Achievers." The companies must be incorporated in Canada, trade on a major Canadian exchange (such as Vancouver or Toronto), and have increased their annual dividend payments every year for the past five or more years. The Index is calculated by market capitalization.
So, simply, this is the Canadian version of the Mergent Broad Dividend Achievers.
These companies have a long history of continually raising the amounts of their annual stock dividends. They are the best dividend stocks in their category.
47 Companies in the Mergent Canadian Dividend Achievers Index:
- Royal Bank of Canada
- Manulife Financial Corp.
- Bank of Nova Scotia
- Toronto Dominion Bank
- Imperial Oil Ltd.
- Bank of Montreal
- Canadian Imperial Bank of Commerce
- Great-West Lifeco Inc.
- Husky Energy Inc.
- Canadian Natural Resources Ltd
The broad Canadian stock market is measured by the S and P/TSX (Toronto Stock Exchange) Composite Canadian Benchmark index. The Canadian Dividend Achievers Index generally outperforms this bench market index.
First Asset Canadian Dividend Achievers™ Notes
I could not find any exchange traded funds that track the Mergent Canadian Dividend Achievers Index, but First Asset does sell Canadian Dividend Achievers™ Notes. So far as I can tell, they're basically bonds backed up by the performance of 27 companies of the the index. They're issued by the National Bank of Canada. Their issue price is $100 per note, with a $2000 minimum purchase. First Asset provides 100% principal protection at maturity.
As with American companies, there is also a "Select" version of this index, the Mergent Canadian Dividend Achievers Select Index.
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