11 fast-growing Canadian dividend stocks to watch

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We are looking for fastest-growing Canadian dividend payers

The past five years have been marked by significant turbulence in the stock market, driven by events such as the COVID-19 pandemic, the Russia-Ukraine war, surging inflation and shifting monetary policy. Amid such uncertainty, dividend payments offer investors a valuable source of consistency.

To identify resilient dividend growers, I used the screening tool from FactSet, a financial data and analytics provider, and applied the following parameters:Positive forecasted dividend, sales and earnings growth next year according to analyst estimates Interest coverage ratio, a measure of a company’s ability to pay interest on debt obligations, greater than three

a Canadian dollar-store retail chain, topped our screen with a one-year estimated dividend growth rate of 30.6 per cent. I urge investors to look beyond Dollarama’s relatively low dividend yield of 0.3 per cent, as analysts are forecasting substantial growth. With the highest dividend coverage ratio on our screen at 17.5 times, Dollarama is well positioned to continue increasing dividends in the years to come.

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