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 from the TSX 60 Index with yields up to 4.75% that you could buy right now.

1. Bank of Montreal: 4.75% yield

Bank of Montreal (TSX:BMO)(NYSE:BMO) is the fourth-largest bank in Canada, with approximately $672.4 billion in total assets. It pays a quarterly dividend of $0.82 per share, or $3.28 per share annually, giving its stock a 4.75% yield at today’s levels. The company has also increased its dividend for four consecutive years, and its consistent free cash flow generation could allow this streak to continue in 2016.

2. Rogers Communications Inc.: 4.3% yield

Rogers Communications Inc. (TSX:RCI.B)(NYSE:RCI) is one of the largest communications and media companies in Canada. It pays a quarterly dividend of $0.48 per share, or $1.92 per share annually, which gives its stock a 4.3% yield at current levels. It is also very important to note that the company has increased its dividend for 10 consecutive years, and its increased amount of free cash flow could allow this streak to continue for another 10 years at least.

3. Teck Resources Ltd.: 3.3% yield

Teck Resources Ltd. (TSX:TCK.B)(NYSE:TCK) is the largest diversified resources company in Canada and the largest producer of steel-making coal in North America. It pays a semi-annual dividend of $0.15 per share, or $0.30 per share annually, giving its stock a 3.3% yield at today’s levels. Investors should also note that the company reduced its dividend by 66.7% in April to bring its payout and yield “more in line with current commodity prices,” and to ensure the “strength and flexibility” of its balance sheet. I think the new rate is sustainable for the long term.

Which of these dividend stocks should you buy today?

Bank of Montreal, Rogers Communications, and Teck Resources are three of the most attractive dividend-paying investment opportunities in the TSX 60 Index today. Foolish investors should take a closer look and consider buying one or all of them today.

Want more of our top dividend stock picks?

These three top stocks have delivered dividends for shareholders for decades (and even centuries!). Check out our special FREE report: "3 Dividend Stocks to Buy and Hold Forever". Click here now to get the full story!


Let’s not beat around the bush – energy companies performed miserably in 2015. Yet, even though the carnage was widespread, not all energy-related businesses were equally affected.

We've identified an energy company we think offers one of the best growth opportunities around. While this company is largely tied to the production of natural gas, it doesn't actually produce the gas. Instead, it provides the equipment required to get natural gas from the ground to the end user. With diversified operations around the globe, we think it's a rare find in the industry.

We like it so much, we’ve named it as 1 Top Stock for 2016 and Beyond. To find out why, simply enter your email address below to claim your FREE copy of this brand new report, "1 Top Stock for 2016 and Beyond"!

Fool contributor Joseph Solitro has no position in any stocks mentioned. The Motley Fool owns shares of ROGERS COMMUNICATIONS INC. CL B NV. Rogers Communications is a recommendation of Stock Advisor Canada.