3 Stocks With Yields Up to 7.6% to Buy Today

Are you looking to buy a dividend stock? If so, Inter Pipeline Ltd. (TSX:IPL), Power Financial Corp. (TSX:PWF), and North West Company Inc. (TSX:NWC) are prime options.

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Over the long term, dividend-paying stocks far outperform non-dividend paying stocks when investors participate in a dividend reinvestment plan. It is for this reason that all long-term investors should own at least one dividend-paying stock, and depending on your age, investment goals, and risk tolerance, maybe even a portfolio full of them. With this in mind, let’s take a look at three stocks with yields up to 7.6% that you could buy today.

1. Inter Pipeline Ltd.

Inter Pipeline Ltd. (TSX:IPL) is one of largest providers of petroleum transportation, bulk liquid storage, and natural gas liquids extraction services in western Canada and northern Europe. It pays a monthly dividend of $0.13 per share, or $1.56 per share annually, giving its stock a 7.6% yield at today’s levels.

Investors must also note that Inter Pipeline has raised its annual dividend payment for seven consecutive years, and the 6.1% increase it announced on November 5 puts it on pace for 2016 to mark the eighth consecutive year with an increase.

2. Power Financial Corp.

Power Financial Corp. (TSX:PWF) is a diversified management and holding company with interests, directly or indirectly, in companies in the financial services industries in Canada, the United States, Europe, and Asia. It pays a quarterly dividend of $0.3725 per share, or $1.49 per share annually, giving its stock a 4.6% yield at current levels.

It is also important to note that Power Financial increased its dividend by 6.4% in February as a result of its strong operational performance, but this was only its first increase since 2008, so investors shouldn’t consider it a dividend-growth play yet.

3. North West Company Inc.

North West Company Inc. (TSX:NWC) is one of the leading retailers of food and everyday products and services to rural communities and urban neighborhoods in Canada, Alaska, the South Pacific, and the Caribbean. It pays a quarterly dividend of $0.31 per share, or $1.24 per share annually, giving its stock a 4.5% yield at today’s levels.

Investors should also note that, excluding special dividends, North West has raised its annual dividend payment for four consecutive years, and the 6.9% increase it announced on September 10 puts it on pace for 2016 to mark the fifth consecutive year with an increase.

Could your portfolio use more yield?

Inter Pipeline, Power Financial, and North West are three of the most attractive high-yielding investment options in their respective industries. All Foolish investors should take a closer look and strongly consider initiating positions in at least one of them today.

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.

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