Wealth management professionals are always on the lookout for opportunities to help clients grow their portfolios. One area worth exploring is high-dividend Canadian stocks. Canada is home to many blue-chip companies that pay out generous dividends to their shareholders. In this article, we’ll look at 24 of the top Canadian stocks with high dividend yields, along with some tips on how you may want to structure your portfolio.
- BCE Inc. (BCE) – BCE is one of Canada’s largest telecommunications companies, with a dividend yield of around 5.5%. BCE has a strong market position and has been paying dividends consistently for over a century.
- Bank of Montreal (BMO) – BMO is one of Canada’s largest banks, with a dividend yield of around 4%. BMO has a diverse range of financial products and services and a solid reputation for stability.
- Canadian Imperial Bank of Commerce (CM) – CIBC is another large Canadian bank, with a dividend yield of around 5%. CIBC has a strong presence in Canada and is expanding into the US market.
- Enbridge Inc. (ENB) – Enbridge is a leading energy infrastructure company with a dividend yield of around 7%. Enbridge has a vast network of pipelines and is well-positioned to benefit from the growth in North American energy production.
- TransCanada Corporation (TRP) – TransCanada is another energy infrastructure company, with a dividend yield of around 5%. TransCanada has a diverse portfolio of assets, including pipelines, storage facilities, and power plants.
- Fortis Inc. (FTS) – Fortis is a utility company with a dividend yield of around 3.5%. Fortis has a stable customer base and is expanding its operations in the US and Caribbean.
- Telus Corporation (T) – Telus is a telecommunications company with a dividend yield of around 4%. Telus has a strong presence in Western Canada and has been investing in its wireless and broadband networks.
- Royal Bank of Canada (RY) – RBC is one of Canada’s largest banks, with a dividend yield of around 4%. RBC has a strong international presence and is expanding into new markets.
- Toronto-Dominion Bank (TD) – TD is another large Canadian bank, with a dividend yield of around 4%. TD has a significant presence in the US market and has been investing in its digital banking capabilities.
- Canadian Natural Resources Limited (CNQ) – CNQ is a leading oil and gas exploration company with a dividend yield of around 3.5%. CNQ has a diversified portfolio of assets, including oil sands, conventional oil and gas, and natural gas liquids.
- Brookfield Renewable Partners L.P. (BEP.UN) – Brookfield Renewable Partners is a renewable energy company with a dividend yield of around 3.5%. Brookfield has a diverse portfolio of assets, including hydro, wind, and solar power.
- Pembina Pipeline Corporation (PPL) – Pembina Pipeline is an energy infrastructure company with a dividend yield of around 6%. Pembina has a vast network of pipelines, storage facilities, and processing plants.
- Canadian Utilities Limited (CU) – Canadian Utilities is a utility company with a dividend yield of around 4%. Canadian Utilities has a diverse portfolio of assets, including electricity generation, natural gas distribution, and pipeline operations.
- National Bank of Canada (NA) – National Bank is one of Canada’s largest banks, with a dividend yield of around 3.5%. National Bank has a strong presence in Quebec and is expanding its operations in other provinces.
- Emera Incorporated (EMA) – Emera is a utility company with a dividend yield of around 4%. Emera has operations in Canada, the US, and the Caribbean, and has been investing in renewable energy.
- Brookfield Infrastructure Partners L.P. (BIP.UN) – Brookfield Infrastructure Partners is an infrastructure company with a dividend yield of around 4%. Brookfield has a diverse portfolio of assets, including utilities, transport, and energy.
- Shaw Communications Inc. (SJR.B) – Shaw Communications is a telecommunications company with a dividend yield of around 4%. Shaw has been investing in its wireless and broadband networks and is expanding into new markets.
- TC Energy Corporation (TRP) – TC Energy is an energy infrastructure company with a dividend yield of around 5%. TC Energy has a vast network of pipelines, storage facilities, and power plants.
- Canadian Pacific Railway Limited (CP) – Canadian Pacific Railway is a transportation company with a dividend yield of around 0.7%. CP has a strong market position in the transportation of goods and is expanding into new markets.
- Nutrien Ltd. (NTR) – Nutrien is a fertilizer and agriculture company with a dividend yield of around 3%. Nutrien has a global footprint and is expanding its operations in new markets.
- Suncor Energy Inc. (SU) – Suncor Energy is an oil and gas exploration company with a dividend yield of around 3%. Suncor has a diverse portfolio of assets, including oil sands, conventional oil and gas, and renewable energy.
- Brookfield Asset Management Inc. (BAM.A) – Brookfield Asset Management is an asset management company with a dividend yield of around 1.5%. Brookfield has a diverse range of assets under management, including real estate, infrastructure, and renewable energy.
- Power Corporation of Canada (POW) – Power Corporation is a holding company with interests in financial services, energy, and other industries. Power Corporation has a dividend yield of around 5%.
- Inter Pipeline Ltd. (IPL) – Inter Pipeline is an energy infrastructure company with a dividend yield of around 6%. Inter Pipeline has a network of pipelines, storage facilities, and processing plants.
Now that you have an idea of some of the top Canadian stocks with high dividend yields, let’s look at some tips on how to invest in them.
You’ll need to do your research on the stocks you’re interested in. Look at the company’s financials, dividend history, and future growth prospects. You may also want to consider the stock’s valuation, as a high dividend yield may indicate that the stock is undervalued.
You may want to consider diversifying your portfolio by investing in a range of stocks across different industries.
It’s important to remember that investing in stocks involves risk, and past performance is not indicative of future results. It’s essential to have a well-thought-out investment strategy and to consult with a financial advisor before making any investment decisions. If you need any help in this area then just give Canada Income Wealth Management a call. Our contact info can be found below.
In conclusion, high-dividend Canadian stocks can be a great addition to a well-diversified investment portfolio. With careful research and a sound investment approach such dividend investment strategy can help you grow wealth over time.
