3 Great Dividend Stocks for Long-Term Investors

Need a dividend stock? If so, consider buying shares of Great-West Lifeco Inc. (TSX:GWO), Finning International Inc. (TSX:FTT), or Transcontinental Inc. (TSX:TCL.A).

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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 of 3-4% that you could buy today.

1. Great-West Lifeco Inc.

Great-West Lifeco Inc. (TSX:GWO) is one of the world’s leading providers of financial products and services, including life and health insurance. It pays a quarterly dividend of $0.346 per share, or $1.384 per share annually, which gives its stock a yield of about 4% at today’s levels.

Investors should also note that Great-West Lifeco raised its annual dividend payment by 6% in 2015, and its 6.1% hike in February has it on pace for 2016 to mark the second consecutive year with an increase.

2. Finning International Inc.

Finning International Inc. (TSX:FTT) is the world’s largest dealer of Caterpillar equipment with operations North America, South America, and Europe. It pays a quarterly dividend of $0.1825 per share, or $0.73 per share annually, which gives its stock a yield of about 3.8% at today’s levels.

Investors must also note that Finning has raised its annual dividend payment for 14 consecutive years, and its 2.8% hike in May 2015 has it on pace for 2016 to mark the 15th consecutive year with an increase.

3. Transcontinental Inc.

Transcontinental Inc. (TSX:TCL.A) is Canada’s largest printer with operations in print, flexible packaging, publishing, and digital media, and it is one of the leading providers of proximity media solutions. It pays a quarterly dividend of $0.17 per share, or $0.68 per share annually, which gives its stock a yield of about 3.4% at today’s levels.

It is also very important for investors to note that Transcontinental has raised its annual dividend payment for 14 consecutive years, and its 6.3% hike in March 2015 has it on pace for 2016 to mark the 15th consecutive year with an increase.

Is now the time for you to buy a dividend stock?

Great-West Lifeco, Finning International, and Transcontinental are three of the best dividend-paying investment options in their respective industries. Take a closer look and strongly consider initiating positions in one or more of them today.

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.  Finning International is a recommendation of Stock Advisor Canada.

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