5 Top Dividend Stocks for Your Portfolio

Now’s the time to consider top dividend yields for your portfolio.

| More on:
The Motley Fool

These five companies offer top dividend yields and consistent income for investors. All are part of vital industries and deliver steady ROI through economic upturns and downturns alike.

1. Crescent Point Energy

Crescent Point Energy (TSX: CPG)(NYSE: CPG) has a current dividend yield of 6.25%. Its dividend rate is $2.76.

The company has focused its acquisition efforts in core areas in southern Saskatchewan and central and southern Alberta. For example, its Viking light oil resource play in Alberta has become its third-largest producing area. In 2013, Crescent Point spent $138.5 million of its capital budget in the Bakken light oil resource play in North Dakota. This included drilling in the Bakken and Three Forks zones.

2. Penn West Petroleum

Penn West Petroleum (TSX: PWT)(NYSE: PWE) has a current dividend yield of 6%. Its dividend rate is $0.56.

Penn West’s five-year plan is to position itself as a leading oil producer in the Western Canadian Sedimentary basin. It is focusing its development activities in three of its core areas – Cardium, Viking, and Slave Point. Penn West states, “With approximately $270 million allocated in 2014 (including EOR capital), and approximately $2.5 billion over the next five years, the Cardium represents the future of the company.”

3. Canadian Oil Sands

Canadian Oil Sands (TSX: COS) has a current dividend yield of 5.92%. Its dividend rate is $1.40.

The company is the largest owner in the Syncrude project (36.74% interest). Syncrude, which produces a high-quality crude oil, is a leader in Canada’s oil sands industry. For Q1 2014, Syncrude production was 26.3 million barrels, or 292,500 barrels per day. Canadian Oil Sands achieved a $106 per barrel average selling price. This was 20% higher than the $88 per barrel forecast in its January 2014 outlook.

4. TransAlta

TransAlta (TSX: TA)(NYSE: TAC) has a current dividend yield of 5.70%. Its dividend rate is $0.72.

TransAlta’s growth plans include building and owning a $178 million natural gas pipeline to its Solomon power station. In Q1 2014, it commenced construction with its joint venture partner of the natural gas pipeline. TransAlta has a 43% interest in the Fortescue River Gas Pipeline Joint Venture.

In April, TransAlta announced that it was named the preferred bidder for the South Hedland Power Project in Western Australia. This project would see TransAlta build, own, and operate a 150 MW combined cycle gas power station in South Hedland.

5. QR Energy

QR Energy (NYSE: QRE) has a current dividend yield of 10.42%. Its dividend rate is $1.95.

QR Energy’s assets are in the Permian Basin, Ark-La-Tex, Mid-Continent, Gulf Coast, and Michigan areas. For Q1 2014, average production of 18,900 boe per day consisted of roughly 72% crude oil and natural gas liquids.

In Q1 2014, the company increased its 2014 capital program by $82 million to $182 million. This was due to ongoing operational success experienced with organic projects in its core operating areas as well as the completion of certain field studies in its core fields.

Those uncertain tech stocks out there probably won’t hold a candle to these stalwarts that deliver income regularly. Consider these five companies as income stocks that deliver despite economic and market gyrations.

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 Michael Ugulini has no position in any stocks mentioned.

More on Investing

woman retiree on computer
Dividend Stocks

Should You Buy Telus Stock at $20?

Down 40% from all-time highs, Telus is a beaten-down TSX dividend stock that trades at a discount to consensus price…

Read more »

top TSX stocks to buy
Dividend Stocks

Here’s Exactly How $15,000 in a TFSA Could Grow Into $200,000

Canadians with sizeable TFSA balances today have utilized the full potential of the investment vehicle.

Read more »

clock time
Investing

Building Generational Wealth: Why Now Is Still the Time to Invest in Canadian Stocks

Here's why Canadian stocks should still be the core of your investment portfolio.

Read more »

TFSA (Tax-Free Savings Account) on wooden blocks and Canadian one hundred dollar bills.
Dividend Stocks

The 1 Canadian Stock I’d Buy and Hold Forever in a TFSA

Don't get complicated. Consider this Canadian stock as a long-time buy.

Read more »

Man data analyze
Dividend Stocks

A Top-Performing U.S. Stock That Canadian Investors Really Should Own

This top US tech stock is something you cannot miss out on, and there’s another from Canada that you need…

Read more »

how to save money
Dividend Stocks

3 Premium TSX Dividend Stocks Worth Loading Up On

These three premium TSX dividend stocks remain among the best bets for long-term investors seeking stable total returns.

Read more »

Hand Protecting Senior Couple
Dividend Stocks

3 Canadian Dividend Stocks Perfect for Retirees

These three Canadian stocks are ideal for retirees.

Read more »

Retirees sip their morning coffee outside.
Retirement

Here’s Why You Might Want to Claim CPP at 60 

Are you considering claiming CPP at 60 but are worried if the decision is right? Consider these things before deciding…

Read more »