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Fool Canada’s first 1,000%+ winner?

Our Chief Investment Advisor, Iain Butler, and a team of The Motley Fool’s most talented investors from across the globe recently embarked on an unprecedented mission:

To identify the 20 Canadian small-cap companies they believe have the best shot at earning investors like you gains of 1,000%+ over the coming years.

For the next few days only, you can get the names and full details on these 20 potential “10-baggers” when you join Iain and his team in a first-of-its-kind project they have dubbed Discovery Canada 2017.

3 of the Top Dividend Stocks Money Can Buy

As history shows, dividend-paying stocks outperform non-dividend-paying stocks over the long term. This means that we should all 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 of the top dividend stocks that your money can buy today.

1. Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM) is the fifth-largest bank in Canada with approximately $463.3 billion in total assets. It pays a quarterly dividend of $1.15 per share, or $4.60 per share annually, giving its stock a 4.95% yield at today’s levels.

It is also important for investors to make three notes. First, CIBC has increased its dividend for five consecutive quarters. Second, it has increased its annual dividend payment for five consecutive years, and it is currently on track for 2016 to mark the sixth consecutive year with an increase. Third, the company has a target dividend-payout ratio range of 40-50% of net earnings, so its consistent growth, including an adjusted 4.5% year-over-year increase to $3.82 billion in fiscal 2015, should allow this streak to continue going forward.

2. Thomson Reuters Corp.

(All figures are in U.S. dollars)

Thomson Reuters Corp. (TSX:TRI)(NYSE:TRI) is the world’s leading source of intelligent information for businesses and professionals. It pays a quarterly dividend of $0.335 per share, or $1.34 per share annually, giving its stock a 3.6% yield at today’s levels.

Investors must also make two important notes. First, Thomson Reuters has increased its annual dividend payment for 22 consecutive years, and it is currently on pace for 2016 to mark the 23rd consecutive year with an increase. Second, the company has a target dividend-payout ratio range of 40-50% of its annual free cash flow, so its strong growth, including 24.9% year-over-year growth to $1.09 billion in the first nine months of fiscal 2015, should allow this streak to continue going forward.

3. Canadian Utilities Limited

Canadian Utilities Limited (TSX:CU) is one of the largest utilities and energy companies in North America with operations in pipelines, natural gas and electricity transmission and distribution, power generation and sales, and natural gas gathering, processing, storage, and liquid extraction. It pays a quarterly dividend of $0.295 per share, or $1.18 per share annually, giving its stock a 3.7% yield at today’s levels.

It is also very important for investors to note that Canadian Utilities has raised its annual dividend payment for 43 consecutive years, which is tied for the longest active streak for a public corporation in Canada, and it is currently on pace for 2016 to mark the 44th consecutive year with an increase.

Which of these dividend aristocrats should you buy?

Canadian Imperial Bank of Commerce, Thomson Reuters, and Canadian Utilities are three of the top dividend stocks money can buy. All Foolish investors should strongly consider making at least one of them a core holding today.

Want 3 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!

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

NEW! This Stock Could Be Like Buying Amazon In 1997

For only the 5th time in over 14 years, Motley Fool co-founder David Gardner just issued a Buy Recommendation on this recent Canadian IPO.

Stock Advisor Canada’s Chief Investment Adviser, Iain Butler, also recommended this company back in March – and it’s already up a whopping 57%!

Enter your email address below to find out how you can claim your copy of this brand new report, “Breakthrough IPO Receives Rare Endorsement.”

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