Can This Dividend Machine Keep Averaging 40% Payout Growth a Year?

Core Viewpoint - Quebecor has experienced significant dividend growth since 2016, with a 1,900% increase in quarterly payouts, suggesting potential for continued growth in the next decade [1][2] Dividend Growth - The company has increased its quarterly dividends from CA$0.0175 per share in 2016 to CA$0.35 today, resulting in a 17% annual yield for investors who held CA$1,000 since then [1] - Quebecor's average annual dividend growth has been 40% since 2016, although growth has slowed since 2020, with a total increase of 75% during that period [6] Payout Ratio and Cash Flow - The payout ratio has decreased over the last four years, indicating that the company has more flexibility to grow its dividends [4] - Rising cash flow from operating activities (CFO) is a positive indicator for income investors, as it reflects the cash generated from regular business operations [5] - Quebecor spent CA$179 million on share buybacks in the last 12 months, which is nearly equivalent to the CA$216 million paid out in dividends, allowing for potential dividend increases without incurring debt [6][7] Future Potential - If Quebecor maintains its growth trajectory, it could potentially offer a yield of nearly 55.7% on cost by 2036 for new investors [2]