Income Investors: 3 Stocks With Yields up to 6.2%

Looking for a dividend stock? If so, Alaris Royalty Corp. (TSX:AD), Altagas Ltd. (TSX:ALA), and Manulife Financial Corp. (TSX:MFC)(NYSE:MFC) are great options.

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One of the most important facts to know about investing is that dividend-paying stocks far outperform their non-dividend-paying counterparts over the long term. This means that every long-term investor should own at least one dividend-paying stock, and depending on your age, investment goals, and risk tolerance, maybe even a diversified portfolio full of them. With this in mind, let’s take a look at three stocks with yields up to 6.2% that you could buy today.

1. Alaris Royalty Corp.: 6.2% yield

Alaris Royalty Corp. (TSX:AD) is one of the largest alternative financing companies in North America. It pays a monthly dividend of $0.135 per share, or $1.62 per share annually, giving its stock a 6.2% yield at today’s levels. It is also very important to note that the company has increased its dividend for five consecutive years, including 10 increases in that span, and its strong operational performance could allow this streak to continue for another five years at least.

2. Altagas Ltd.: 5.4% yield

Altagas Ltd. (TSX:ALA) is one of North America’s leading energy infrastructure companies. It pays a monthly dividend of $0.16 per share, or $1.92 per share annually, which gives its stock a 5.4% yield at current levels. Investors should also note that the company has increased its dividend for five consecutive years, and its consistent funds from operations could allow this streak to continue in 2016.

3. Manulife Financial Corp.: 3.4% yield

Manulife Financial Corp. (TSX:MFC)(NYSE:MFC) is one of the largest financial services companies in the world and one of the 10 largest life insurers by market capitalization. It pays a quarterly dividend of $0.17 per share, or $0.68 per share annually, giving its stock a 3.4% yield at today’s levels. It is also important to note that the company has increased its dividend twice in the last 12 months, and its increased amount of free cash flow could allow for another increase in 2016.

Which of these dividend stocks fit your needs?

Alaris Royalty, Altagas, and Manulife Financial are three of the most attractive dividend-paying stocks in their respective industries. Foolish investors should take a closer look and consider buying one or all of them today.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Joseph Solitro has no position in any stocks mentioned.

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