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
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.
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.