Five Canadian stocks for greedy dividend investors

I get it. The oil industry has been hit hard in recent months and you’re fearful of oil and gas stocks.  Maybe all stocks in general.  It doesn’t have to be this way. There’s more to Canada’s economic engine that just energy stocks like the names of Suncor, Canadian Oil Sands, and Canadian Natural Resources for dividend investors – at least I believe so. Today’s post will highlight five other Canadian dividend paying stocks worth looking into for greedy dividend investors to buy and hold.

TransCanada (TRP)

Price as of this post: $54.70

Dividend yield as of this post: 3.8%

TransCanada’s stock price has dipped since September 2014 and the battle about the Keystone XL pipeline project remains fierce. I suggest you tune out that noise.  The company is striving for a dividend growth rate close to 10% annually in the coming years.  You can review their dividend history here.

National Bank (NA)

Price as of this post: $46.06

Dividend yield as of this post: 4.3%

Canada’s “big 5” banks get all the attention which is why you might want to consider the little guy on the outside looking in. National Bank has been paying quarterly dividends since 1980 and has been increasing their dividend at least once per year over the last few years since the 2008-2009 global financial crisis.  You can review their dividend history here.

Bell Canada (BCE)

Price as of this post: $53.88

Dividend yield as of this post: 4.9%

Talk about a cash back rewards program. The recent Bell Canada dividend announcement represents BCE’s 11th increase to its annual common share dividend, representing a 78% increase, in the past 6 years.  You can review their dividend history here.

Home Capital Group (HCG)

Price as of this post: $42.69

Dividend yield as of this post: 2%

With net income recently reported up over 20%, HCG thanked shareholders recently by increasing their dividend 10%.  This latest pay raise represents a year-over-year dividend hike of 37.5%.  You can read up on HCG here.

Algonquin Power (AQN)

Price as of this post: $9.35

Dividend yield as of this post: 4.7%

AQN is a renewable energy company that was founded in 1997 that regulates utility assets across North America, with investments in hydroelectric power, wind and solar power.  Consider this an inflation-fighting stock since it can pass along its operating costs to customers.  You can review their dividend history here.

Investing in dividend paying stocks can provide the promise of long-term steady income (i.e., passive income) but such investments can also come with risks. While dividends are great they are never guaranteed so buyer beware.  As always consider working with your financial advisor or a financial professional before making any major investment decisions.

Any dividend stocks you have your eye on?

Tweet about this on TwitterShare on FacebookShare on Google+Share on LinkedInEmail this to someone

21 Responses to "Five Canadian stocks for greedy dividend investors"

  1. Thanks for these tips. I am just beginning my dividend investing journey and am keenly interested in learning how to craft a self-sustaining portfolio that will serve me well in my retirement years.

    Cheers,
    J

    Reply
    1. Dividend stocks can be good for passive income Jason, for sure, but buyer always beware with individual securities. Diversification is always key. Thanks for stopping by.

      Reply
  2. Nice picks, Mark. I am looking at AQN and really liking it. I missed out on the correction last month when it dropped after they delayed their earnings report. Should’ve initiated a small position ateast. Its back to its valuation where it was sitting for a while.

    Best wishes
    R2R

    Reply
    1. I think it could be a very good long term hold with lots of upside. Worse case they get bought out by a bigger player many years to come for a premium.

      Thanks for the comment R2R.

      Reply
  3. Ah! Finally another blogger who talks about NA! 😉 Been praising it for a long time but most investors get stuck to the big five banks.. NA is the one with the highest growth potential in my point of view!

    Cheers!

    Mike

    Reply
  4. Nice group of companies there. I hold 3 of the 5, BCE, NA and AQN and they’ve all done quite well for me! Each of them has raised their dividends at least once in the past year and their stocks have risen as well.

    Reply
  5. AQN is a good choice. I never bought it but it always poped up on my monitoring list.
    NA is a solid one even if it is not the bank stock I prefer the most.

    Reply

Post Comment