One of the most well-known facts about investing is that dividend-paying stocks far outperform their non-dividend-paying counterparts over the long term. This means that every long-term investor should own at least one dividend-paying stock, and depending on your age and risk tolerance, maybe a diversified portfolio full of them. With this in mind, let’s take a look at three stocks with dividend yields over 3% to consider buying today.
1. Enerplus Corp.: 4.5% yield
Enerplus Corp. (TSX:ERF)(NYSE:ERF) is one of the largest producers of crude oil and natural gas in North America. It pays a monthly dividend of $0.05 per share, or $0.60 per share annually, giving its stock a 4.5% yield at today’s levels. Investors should also note that the company reduced its dividend by 44.4% in March due to high operating expenses and low commodity prices, but I think the new rate is sustainable for the long term.
2. CI Financial Corp.: 3.7% yield
CI Financial Corp. (TSX:CIX) is one of Canada’s largest investment fund companies. It pays a monthly dividend of $0.11 per share, or $1.32 per share annually, which gives its stock a 3.7% yield at current levels. It is also important to note that the company has increased its dividend seven times in the last four years, showing that it is strongly dedicated to maximizing the amount of capital it returns to shareholders.
3. Keyera Corp.: 3.4% yield
Keyera Corp. (TSX:KEY) is one of the largest independent natural gas and natural gas liquids midstream companies in western Canada. It pays a quarterly dividend of $0.115 per share, or $1.38 per share annually, giving its stock a 3.4% yield at today’s levels. The company has also increased its dividend for 13 consecutive years, making it one of the top dividend-growth plays in the energy sector today.
Which of these top dividend stocks should you buy today?
Enerplus, CI Financial, and Keyera represent three of the market’s top dividend-investment opportunities today. All Foolish investors should take a closer look and strongly consider initiating long-term positions in at least one of them.
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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 Joseph Solitro has no position in any stocks mentioned.