Toromont Industries
TIH.TO (TSX)
Toromont Industries (TIH.TO) stands out as a leading Canadian dividend growth stock, boasting an impressive 36 consecutive years of dividend increases. With a yield of 1.28% and a remarkable one-year return of nearly 50%, it appeals to investors seeking reliable income from financially healthy companies. Analysts generally favor the stock, granting it a consensus rating of "Buy" based on insights from nine analysts, with a 12-month price target average of C$172.88.
Pros:
- Top-ranked Canadian dividend growth stock
- Strong revenue and dividend growth
Cons:
- Market volatility risk
- Dependence on industrial sector performance
Toromont Industries (TIH.TO) may be a suitable investment for those looking for a combination of dividend growth and capital appreciation, particularly given its strong historical performance and consistent dividend increases. With a solid financial foundation and positive analyst outlook, it could appeal to both income-focused investors and those seeking long-term growth.