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

A worker gives a business presentation.
Stocks for Beginners

2 Reasons to Buy Onex Stock Like There’s No Tomorrow

Onex (TSX:ONEX) stock has been a strong performer over the years, both in terms of growth and dividends that investors…

Read more »

Canadian Dollars
Stocks for Beginners

The Best Stocks to Invest $5,000 in Right Now

Are you looking to put some cash into the stock market? Here are three picks to put on your watch…

Read more »

calculate and analyze stock
Dividend Stocks

Got $1,000? 3 Dividend Stocks to Buy and Hold Forever

Dividend stocks like Restaurant Brands International (TSX:QSR) can pay substantial amounts of passive income.

Read more »

financial freedom sign
Bank Stocks

This Ridiculously Cheap Warren Buffett Stock Could Help Make You Richer

American Express stock is part of Warren Buffett's equity portfolio, and the stock trades at a steep discount in 2024.

Read more »

tsx today
Stock Market

TSX Today: What to Watch for in Stocks on Monday, February 26

After rising for two weeks in a row, the main TSX index is now at its highest level in more…

Read more »

stock analysis

Buy the Dip: 2 Stocks to Buy Today and Hold for the Next 5 Years

These Canadian stocks are trading at discounted valuations, providing an opportunity for buying the dip.

Read more »

bulb idea thinking

Safety in Size? 2 of the Bluest Blue-Chip Stocks I’d Buy Now

TC Energy (TSX:TRP) and another cash cow have huge dividend yields for safe investors.

Read more »

A cannabis plant grows.
Cannabis Stocks

Can Aurora Cannabis Stock Recover in 2024?

Aurora Cannabis stock is down 99% from all-time highs but remains a high-risk bet, despite its cheap valuation.

Read more »