Low interest rates have devastated retirement incomes, making dividend stocks more popular than ever. Government bond yields are disappointing. Corporate debt doesn’t pay out much better. And “high interest” GICs or saving accounts? Don’t even bother.

This has resulted in a hunger for your usual group of dividend stocks—i.e. telecoms, utilities, consumer staples, etc. An insatiable demand for income has driven up valuations on boring blue-chips, and that has brought down yields as a consequence.

However, here at the Motley Fool, it’s my job to hunt down dividend-cranking stocks. Thankfully, there are still some decent yields floating around if you’re willing to venture off the beaten path. Here are five.


Current Yield

Market Cap

Liquor Stores N.A. Ltd. 7.2% $408.92 million
Cominar Real Estate Investment Trust 7.9% $3.13 billion
Student Transportation Inc. 8.4% $554.97 million
Crescent Point Energy Corp. 9.0% $13.94 billion
Horizon North Logistics Inc. 9.3% $382.34 million

Source: Yahoo! Finance

Let’s say a few words about these companies.

As you could probably guess by the name, Liquor Stores N.A Ltd. (TSX:LIQ) is a booze retailer with locations across western Canada and the United States. But what the company lacks in originality, it more than makes up for in dividends. People don’t stop drinking just because the stock market tanks or interest rates rise. That means the company’s cash flows are steady like bond coupons.

Cominar Real Estate Investment Trust  (TSX:CUF.UN) is also easy to wrap your head around. The firm buys properties, collects rent from tenants, and passes on the income to investors. However, unlike traditional landlords, Cominar specializes in retail and commercial real estate. Because their corporate tenants have a lot more “rent money” than most people, this trust sports one of the biggest yields around.

Student Transportation Inc. (TSX:STB)(NASDAQ:STB) doesn’t take a rocket scientist to understand either, but that’s exactly why I love this business. The company operates the school buses for over 200 municipalities across the continent. Children always need to get to class, even in a recession. As a result, this stock churns out consistent dividends and currently pays a tidy 8.4%.

Finally, Crescent Point Energy Corp. (TSX:CPG)(NYSE:CPG) and Horizon North Logistics Inc. (TSX:HNL) both churn out some of the highest yields you can find today. They’re both also looked down upon because low oil prices have hammered the energy patch. As one of my friends from Calgary told me, “It looks like the inside of an outhouse after the lightning hit.”

There’s no way to sugar coat this; these two are no widow-and-orphan stocks. But even in light of today’s low oil prices, both companies are still generating enough cash to fund their dividends. And with yields topping 9%, investors are being well compensated for the risks they’re taking.

Who else wants more dividend income?

These are all great investment ideas, but they aren't the only stocks that crank out steady income. Check out my special FREE report: "3 Dividend Stocks to Buy and Hold Forever." These three top stocks have been paying shareholders for decades (and even centuries!). Click here now to get the full story!


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Fool contributor Robert Baillieul has no position in any stocks mentioned.