The Motley Fool

3 Stocks With Yields Up to 7.6% to Buy Today

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.

The 10 Best Stocks to Buy This Month

Renowned Canadian investor Iain Butler just named 10 stocks for Canadians to buy TODAY. So if you’re tired of reading about other people getting rich in the stock market, this might be a good day for you. Because Motley Fool Canada is offering a full 65% off the list price of their top stock-picking service, plus a complete membership fee back guarantee on what you pay for the service. Simply click here to discover how you can take advantage of this.

Click Here to Learn More Today!

Fool contributor Joseph Solitro has no position in any stocks mentioned.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss an important event.

Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group.

This is your chance to get in early on what could prove to be very special investment advice.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada.

I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls. I understand I can unsubscribe from these updates at any time. Please read the Privacy Statement and Terms of Service for more information.