3 Top Dividend Stocks for Beginner Investors

Are you looking to build a dividend portfolio? If so, Laurentian Bank of Canada (TSX:LB), Thomson Reuters Corp. (TSX:TRI)(NYSE:TRI), and Canadian Utilities Limited (TSX:CU) are ideal options.

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If you’re new to investing and are looking to build a portfolio of dividend stocks with high yields and track records of raising their annual rates, then this article will make things very easy for you. I scoured the market and selected three of the best dividend stocks from three different industries, so let’s take a quick look at each to determine if you should buy them to form your instant three-stock dividend portfolio.

1. Laurentian Bank of Canada

Laurentian Bank of Canada (TSX:LB) is one of the largest banking institutions in eastern Canada with approximately $39.7 billion in total assets. It pays a quarterly dividend of $0.58 per share, or $2.32 per share annually, which gives its stock a yield of about 4.9% at today’s levels.

Investors must also note that Laurentian Bank has raised its annual dividend payment for eight consecutive years, giving it a longer active streak than Canada’s six largest banks, and its recent increases, including its 3.7% hike in June 2015 and its 3.6% hike in December 2015, has it on pace for 2016 to mark the ninth consecutive year with an increase.

2. Thomson Reuters Corp.

Thomson Reuters Corp. (TSX:TRI)(NYSE:TRI) is the world’s leading source of intelligent information for businesses and professionals, which it describes as “a unique synthesis of human intelligence, industry expertise, and innovative technology.” It pays a quarterly dividend of US$0.34 per share, or US$1.36 per share annually, which gives its stock a yield of about 3.7% at today’s levels.

It is also very important for investors to note that Thomson Reuters has raised its annual dividend payment for 22 consecutive years, tying it with one other company for the fourth-longest active streak for a public corporation in Canada, and its 1.5% hike on February 11 has it on pace for 2016 to mark the 23rd consecutive year with an increase.

3. Canadian Utilities Limited

Canadian Utilities Limited (TSX:CU) is a diversified global corporation with operations in structures and logistics, pipelines and liquids, and electricity generation, distribution, transmission, and infrastructure development. It pays a quarterly dividend of $0.325 per share, or $1.30 per share annually, which gives its stock a yield of about 3.7% at today’s levels.

Investors must also note that Canadian Utilities has raised its annual dividend payment for 43 consecutive years, tying it with one other company for the longest active streak for a public corporation in Canada, and its 10.2% hike on January 7 has it on pace for 2016 to mark the 44th consecutive year with an increase.

Should you start building your dividend portfolio today?

Laurentian Bank of Canada, Thomson Reuters, and Canadian Utilities are three of the best dividend stocks money can buy. All beginner investors should take a closer look and strongly consider buying them to form your instant three-stock dividend portfolio.

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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