As most investors know, dividend-paying stocks far outperform non-dividend-paying stocks over extended periods of time. This means that every long-term investor should own at least one dividend-paying stock, and depending on your age, investment goals, and risk tolerance, maybe a diversified portfolio full of them. With this in mind, let’s take a look at three stocks with yields up to 6.45% that you should consider buying today.
1. Corus Entertainment Inc.: 6.45% yield
Corus Entertainment Inc. (TSX:CJR.B) is one of the largest integrated media and entertainment companies in Canada. It pays a monthly dividend of $0.095 per share, or $1.14 per share annually, giving its stock a 6.45% yield at today’s levels. The company has also increased its dividend for six consecutive years, showing that it is strongly dedicated to maximizing shareholder value and making it one of the top dividend-growth plays in the entertainment industry today.
2. Cenovus Energy Inc.: 5.1% yield
Cenovus Energy Inc. (TSX:CVE)(NYSE:CVE) is one of the largest integrated oil and gas companies in Canada. It pays a quarterly dividend of $0.2662 per share, or $1.0648 per share annually, which gives its stock a 5.1% yield at current levels. The company has also increased its annual dividend payment each of the last three years, and as long as commodity prices recover over the next few months, I think this streak could continue in 2015.
3. North West Company Inc.: 4.9% yield
North West Company Inc. (TSX:NWC) is one of the leading retailers to under-served rural communities and urban neighborhoods in North America. It pays a quarterly dividend of $0.29 per share, or $1.16 per share annually, giving its stock a 4.9% yield at today’s levels. Also, like Cenovus Energy, North West has increased its annual dividend payment each of the last three years, and its consistent free cash flow generation could allow this streak to continue for the next several years.
Which of these top dividend stocks should you buy today?
Corus Entertainment, Cenovus Energy, and North West represent three of the top dividend-paying investment opportunities in the market today. Foolish investors should strongly consider establishing 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.