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Two Canadian trucking companies, Mullen Group and Contrans Group,Ìýsaid theyÌýwill boost dividend payments.

Mullen will boost its annual dividend to C$1.20 per share from C$1, andÌýContrans will raise its 2013 quarterly dividend by 25% to C12.5 centsÌýper share.

MullenÌýwill start paying the annual dividend monthly rather than quarterly, and said it made the decisions based on the expectation of generating more funds than the amount needed to pay for capital investment, taxes and interest.

Mullen also announced a capital budget of C$80 million for 2013, with a majority of the funds going toward acquiring trucks, trailers and specialized equipment.

Mullen Group is ranked No. 51 and Contrans Group is ranked No. 63 on the Transport Topics 100 listing of U.S. and Canadian for-hire carriers.