The Canadian dollar continues to fall against its American counterpart, and investors are wondering how they can cash in on the trend.

One way is to buy dividend stocks that get a hefty portion of their revenues from U.S.-based customers.

Here are the reasons why I think Fortis Inc. (TSX:FTS), Toronto-Dominion Bank (TSX:TD)(NYSE:TD), and Whistler Blackcomb Holdings Inc. (TSX:WB) are top picks to play the weak loonie.


Fortis is a natural gas distribution and electricity generation company with assets located in the U.S., Canada, and the Caribbean.

Management does a good job of finding opportunities to boost revenue streams and profits for investors, and one of the best deals in recent years was the 2014 purchase of Arizona-based UNS Energy.

Fortis paid $4 billion for the assets, which greatly increased the company’s presence in the United States. The integration has gone so well that Fortis recently bumped the dividend up by 10%.

More than 40% of the company’s revenue now comes from the U.S., and that means investors should see strong results continue in the coming years. Fortis pays a quarterly dividend of $0.375 per share that yields about 4.1%.


Just over 11 years ago TD didn’t have any U.S. retail operations. Today the company has more branches south of the border than it does in Canada. The growth is the result of a $17 billion spending spree on assets that run from Maine all the way down to Florida.

Whether or not management knew the loonie was headed for a massive swan dive is up for debate, but the decision to go big in the U.S. looks like a smart one right now.

The U.S. personal and commercial banking group combined with TD’s Ameritrade operation delivered about 28% of the company’s profits in Q4 2015. As U.S. interest rates increase, TD’s margins in the U.S. retail segment should continue to improve.

TD pays a quarterly dividend of $0.51 per share that yields about 4%.

Whistler Blackcomb

The ski resort operator has endured some difficult times over the years with ownership changes and moody weather patterns occasionally putting its future in limbo, but things have been pretty good for shareholders since the business began trading as an independent company in late 2009.

In fact, the stock is up more than 75% in the past five years.

The resort is once again a popular destination for U.S. visitors, and that pattern should continue now that the American economy is on the mend and the U.S. dollar is worth more than CAD$1.40.

Whistler Blackcomb pays an annualized dividend of $0.975 per share that yields 4.3%.

Many Canadians have made a killing on their U.S. holdings in recent years. Are you one of them?

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Fool contributor Andrew Walker has no position in any stocks mentioned.