The Globe and Mail reports in its Saturday, Sept. 13, edition that the S&P/TSX Canadian Dividend Aristocrats Index, which tracks stocks with five years of consistent or increased payouts, reached a record high on Thursday. The Globe's David Berman writes that the index, primarily consisting of financials, energy producers, real estate investment trusts and utilities, has surged 46 per cent since its recent low in 2023. This is not just a Canadian phenomenon. In the United States, where interest rates are significantly higher than in Canada, the S&P 500 Dividend Aristocrats Index has gained a decent 23 per cent since 2023. As share prices rise, yields sink. The dividend yield for Hydro One is just 2.7 per cent and Royal Bank of Canada's yield is under 3.1 per cent, which seems low for stocks prized for their dividends. TC Energy's yield is higher, at 4.7 per cent -- but that is down from a recent peak of 8.9 per cent in 2023. TC Energy stands to benefit from Ottawa's decision to fast-track major projects, which could include a pipeline. In theory, additional rate cuts should make dividends look even more attractive as income-generating alternatives fade.