If you’re interested in generating dividend income, then this article is for you. I have scoured the market and found three stocks from three different industries that have yields up to 4.8%, so let’s take a closer look at each to determine which would be the best fit for your portfolio.
1. Newalta Corporation: 4.8% yield
Newalta Corporation (TSX:NAL) is one of North America’s leading providers of engineered environmental solutions. It pays a quarterly dividend of $0.125 per share, or $0.50 per share annually, giving its stock a 4.8% yield at today’s levels.
Investors should also note that the company has increased its dividend for five consecutive years, but its decreased amount of funds from operations, including an 82.5% year-over-year decline to $6.06 million in the first half of fiscal 2015, will likely cause this streak to end in 2015.
2. CI Financial Corp.: 4.4% yield
CI Financial Corp. (TSX: CIX) is one of the largest investment fund companies in Canada. It pays a monthly dividend of $0.11 per share, or $1.32 per share annually, which gives its stock a 4.4% yield at current levels.
It is also important to note that the company has increased its dividend for five consecutive years, and its increased amount of free cash flow, including 12.6% year-over-year growth to $294.1 million in the first half of fiscal 2015, could allow this streak to continue in 2016.
3. Keyera Corp.: 3.9% 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 monthly dividend of $0.125 per share, or $1.50 per share annually, giving its stock a 3.9% yield at today’s levels.
Investors should also note that the company has increased its dividend for 13 consecutive years, and its increased amount of distributable cash flow, including 43.1% year-over-year growth to $232.1 million in the first half of fiscal 2015, could allow this streak to continue for the next several years.
Which of these stocks would fit best in your portfolio?
Newalta, CI Financial, and Keyera are three of the most attractive dividend-paying investment opportunities in their respective industries. Foolish investors should strongly consider buying at least one of them today.
