This High-Yield Stock Just Gave Investors a 10% Raise for 2018 (There's More on the Way, Too)

This High-Yield Stock Just Gave Investors a 10% Raise for 2018 (There's More on the Way, Too)

Enbridge (NYSE: ENB) announced this week that it would increase its dividend 10% for 2018. This move will push the Canadian energy infrastructure giant's yield well past 5%. Furthermore, that increase continues the company's annual tradition of boosting its payout, which it has now done for a remarkable 23 straight years. These haven't been small nudges just to keep the streak alive, either, considering that it has increased its payout by an 11.2% compound annual growth rate over the past two decades.

Meanwhile, Enbridge has full confidence that it can keep its streak going for the next several years, since it also stated that it plans to boost the payout by a 10% annual rate through 2020. While that's at the low end of the company's initial dividend growth forecast when it bought Spectra Energy last year, it's still a top-tier plan and matches Canadian rival TransCanada's (NYSE: TRP) 10% annual dividend growth through 2020.

Image source: Getty Images.

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Source: Fool.com