Whether you just opened your first brokerage account or have been investing for years, you must own at least one dividend-paying stock, because they far outperform non-dividend-paying stocks over the long term. With this in mind, let’s take a look at three stocks with yields up to 10% that you could buy today.
1. Cominar Real Estate Investment Trust
Cominar Real Estate Investment Trust (TSX:CUF.UN) is the third-largest diversified REIT in Canada and the largest commercial property owner in Quebec with 564 properties totaling 45.3 million square feet. It pays a monthly distribution of $0.1225 per share, or $1.47 per share annually, which gives its stock a 10% yield at today’s levels.
It is also very important for investors to note that Cominar has raised its annual dividend payment for two consecutive years, and I think its increased amount of recurring funds from operations, including an adjusted 27.6% year-over-year increase to $193.7 million in the first nine months of fiscal 2015, should allow this streak to continue in 2016.
2. TransCanada Corporation
TransCanada Corporation (TSX:TRP)(NYSE:TRP) is one of the largest owners and operators of natural gas pipelines and storage facilities in North America with more than 68,000 kilometres of pipelines and approximately 386 billion cubic feet of storage capacity. It pays a quarterly dividend of $0.52 per share, or $2.08 per share annually, which gives its stock a 4.6% yield at today’s levels.
Investors must also make two very important notes. First, TransCanada has raised its annual dividend payment for 15 consecutive years. Second, the company has stated that it intends to grow its dividend by 8-10% annually through 2020.
3. Transcontinental Inc.
Transcontinental Inc. (TSX:TCL.A) is the leading provider of printing services and proximity media solutions in Canada. It pays a quarterly dividend of $0.17 per share, or $0.68 per share annually, which gives its stock a 4.05% yield at today’s levels.
Investors must also note that Transcontinental has raised its annual dividend payment for 14 consecutive years, and I think its strong financial performance in fiscal 2015, including a 13.4% year-over-year increase in adjusted net earnings to $186.7 million, could allow this streak to continue in 2016.
Which of these dividend stocks should you buy today?
Cominar REIT, TransCanada, and Transcontinental are three of the top dividend-paying investment options in their respective industries. All Foolish investors should take a closer look and strongly consider buying shares of at least one of them today.
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Fool contributor Joseph Solitro has no position in any stocks mentioned.