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 11^th 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?

Mark

My name is Mark Seed - the founder, editor and owner of My Own Advisor. As my own DIY financial advisor, I'm looking to start semi-retirement soon, sooner than most. Find out how, what I did, and what you can learn to tailor your own financial independence path. Join the newsletter read by thousands each day, always FREE.