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3 Top Dividend Stocks I’d Buy With an Extra $5,000

One of the most well-known facts about investing is that dividend-paying stocks far outperform their non-dividend-paying counterparts over the long term. It is for this reason that every long-term investor should 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 all of this in mind, let’s take a look at three top dividend stocks that you could buy now.

1. Enbridge Inc.

Enbridge Inc. (TSX:ENB)(NYSE:ENB) owns and operates the longest crude oil and liquids transportation system in the world, and it is one of the leading providers of contract crude oil storage in Canada and the United States. It currently pays a dividend of $0.53 per share quarterly, or $2.12 per share annually, giving its stock a 4.9% yield at today’s levels.

It is also very important for investors to make two notes.

First, Enbridge has increased its annual dividend payment for 20 consecutive years, and it is currently on pace for 2016 to mark the 21st consecutive year with an increase.

Second, the company has a target dividend-growth rate of 14-16% annually through 2019, which would bring its streak of annual increases to 25, and I think it will extend this target or announce a new target as 2019 nears.

2. Pizza Pizza Royalty Corp.

Pizza Pizza Royalty Corp. (TSX:PZA) is the largest pizza restaurant chain in Canada, and it is the company behind the Pizza Pizza and Pizza 73 brands. It currently pays a dividend of $0.0697 per share monthly, or $0.8364 per share annually, giving its stock a 6.4% yield at today’s levels.

It is also important for investors to make two notes.

First, Pizza Pizza has increased its annual dividend payment for four consecutive years, and it is currently on pace for 2016 to mark the fifth consecutive year with an increase.

Second, the company has a target dividend-payout of 100% of its adjusted earnings available for shareholder dividends, so I think its double-digit percentage growth, including 18.8% year-over-year growth to $15.18 million in the first nine months of fiscal 2015, could allow it to increase its dividend again within the next few months.

3. Whistler Blackcomb Holdings Inc.

Whistler Blackcomb Holdings Inc. (TSX:WB) owns a 75% interest in Whistler Mountain Resort Limited Partnership and Blackcomb Skiing Enterprises Limited Partnership, which operate four-season mountain resort businesses located on adjacent and integrated mountains in British Columbia. It currently pays a dividend of $0.24375 per share quarterly, or $0.975 per share annually, giving its stock a 4.3% yield at today’s levels.

Investors must also note that Whistler Blackcomb has maintained its current dividend rate since it went public in November 2010, and I think its consistent cash provided by operating activities, including $67.85 million in fiscal 2014 and $69.65 million in fiscal 2015, could allow it to continue to do so going forward.

Which of these dividend stocks would fit best in your portfolio?

Enbridge, Pizza Pizza Royalty, and Whistler Blackcomb are three of the most attractive dividend-paying investment options in the market today. Foolish investors should take a closer look and strongly consider initiating positions in one or more of them now.

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

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