As history shows, dividend-paying stocks outperform non-dividend-paying stocks over the long term. This means that we should all own at least one dividend-paying stock, and depending on your age, investment goals, and risk tolerance, maybe even a diversified portfolio full of them. With this in mind, let’s take a look at three stocks from three different industries with yields up to 4.65% that could form your instant three-stock dividend portfolio.
1. Parkland Fuel Corp.
Parkland Fuel Corp. (TSX:PKI) is one of North America’s largest independent marketers of fuel and petroleum products, including gasoline, diesel, propane, lubricants, and heating oil. It pays a monthly dividend of $0.09 per share, or $1.08 per share annually, giving its stock a 4.65% yield at today’s levels.
It is also important to note that Parkland has raised its annual dividend payment for three consecutive years, and if it can maintain its current monthly rate for all of 2016, this streak will reach four.
2. Telus Corporation
Telus Corporation (TSX:T)(NYSE:TU) is one of Canada’s largest telecommunication companies. It pays a quarterly dividend of $0.44 per share, or $1.76 per share annually, giving its stock a 4.6% yield at today’s levels.
Investors must also make two important notes. First, Telus has increased its annual dividend payment for 12 consecutive years. Second, the company has a dividend-growth program in place to raise its dividend by another 10% in 2016, and I think it will announce a new program as soon as this one is completed.
3. Canadian Western Bank
Canadian Western Bank (TSX:CWB) is one of the largest banking institutions in Canada’s four western provinces, with approximately $22.8 billion in total assets. It pays a quarterly dividend of $0.23 per share, or $0.92 per share annually, giving its stock a 3.9% yield at today’s levels.
It is also very important for investors to make two notes. First, Canadian Western Bank has raised its annual dividend payment for 23 consecutive years, and this is the third-longest active streak for a public corporation in Canada. Second, the company raised its dividend by 4.5% on December 3, and this puts it on pace for 2016 to mark the 24th consecutive year with an increase.
Which of these top dividend stocks belongs in your portfolio?
Parkland Fuel, Telus, and Canadian Western Bank could form your instant three-stock dividend portfolio. All Foolish investors should take a closer look and strongly consider buying at least one of them today.
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Fool contributor Joseph Solitro has no position in any stocks mentioned.