3 Dividend Stocks to Buy, Hold & Forget About

Sit back and reap healthy dividends from BCE Inc. (TSX:BCE)(NYSE:BCE), Crescent Point Energy Corp. (TSX:CPG)(NYSE:CPG), and Toronto-Dominion Bank (TSX:TD)(NYSE:TD).

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If you don’t want to worry about continually monitoring your portfolio, consider these three stocks. Buy them, hold for a long time, and reap returns without having to think about them every day.

1. BCE Inc.

BCE Inc. (TSX: BCE) (NYSE: BCE) had a solid Q2 2014, with net earnings of $606 million. This represents an increase of 6.1% versus Q2 2013. BCE is a solid blue-chip dividend stock for conservative investors because it is Canada’s largest communications enterprise. Its market capitalization is approximately $37.50 billion.

As for its revenue sources, 46% comes from Bell Wireline, 29% from Bell Wireless, 13% from Bell Media, and 12% from Bell Aliant. Moreover, 33% of its Bell revenue comes from wireless, 32% from data, 15% from media, 13% from local & access, 4% from long distance, and 3% from equipment and other.

BCE has a nice current dividend yield of 5.11%. The company pays dividends quarterly and its dividend rate is $2.47. BCE’s five-year average dividend growth rate is 9.65%. It recently declared a quarterly dividend of $0.6175 per common share, payable on Oct. 15, 2014. BCE is one of the top dividend yield stocks in Canada. BCE has a target dividend payout ratio of 65%-75% of free cash flow.

2. Crescent Point Energy Corp.

One of Canada’s largest light and medium oil producers, Crescent Point Energy Corp. (TSX: CPG)(NYSE: CPG) has a dividend yield that is close to double the average for North American peers. As The Globe and Mail reported last week, “An oil discovery in Saskatchewan and four purchases set Crescent Point up for a potential dividend increase and production growth that some investors aren’t recognizing, said chief executive officer Scott Saxberg.”

Crescent Point’s drilling inventory consists of approximately 7,650 locations and the company has approximately 12 years of inventory. It focuses its capital in the Uinta Basin resource play and expanded Torquay resource play (North Dakota Basin). Crescent Point closed its acquisition of CanEra Energy Corp. this past May.

Crescent Point Energy has a good current dividend yield of 6.60% and its five-year average dividend yield is 6.00%. It pays dividends monthly and its dividend rate is $2.76. In August, the company confirmed that the dividend paid yesterday (Sept. 15, 2014) regarding August 2014 production, for shareholders of record on Aug. 31, 2014, was to be C$0.23 per share.

3. Toronto-Dominion Bank

Toronto-Dominion Bank (TSX: TD)(NYSE: TD) offers a complete range of financial products and services and in Q3 2014 more than 80% of its adjusted earnings came from retail. The bank is a strong brand in Canada and has a significant U.S. presence as well. Its business comprises Canadian Retail, U.S. Retail, and Wholesale Banking. As of July 31, 2014, Toronto-Dominion had total assets of C$921.7 billion, total deposits of $C573.7 billion, and total loans of $C465.9 billion.

Its Canadian Retail revenue comes from the Canadian personal and commercial banking businesses, Canadian credit cards, TD Auto Finance Canada, and Canadian wealth and insurance businesses. For Canadian Retail, assets under management increased $31 billion, or 16% in Q3. The principal stimulus here was market appreciation and growth in new client assets.

Toronto-Dominion Bank has a current dividend yield of 3.30%. The bank pays dividends quarterly. Its dividend rate is $1.88. Its five-year average dividend growth rate is 8.16%. In late August, Toronto-Dominion declared a dividend of $0.47 for the quarter ending Oct. 31, 2014.

So sit back and enjoy healthy dividends from these three premier Canadian companies in three diverse sectors.

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 owns shares of Toronto-Dominion Bank (USA).

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