If you’re looking to add yield to your portfolio, then you’ve come to the right place. I’ve compiled a list of three of the best mid-cap dividend stocks in the market today, so let’s take a quick look at each to determine if you should buy one or more of them.
1. Brookfield Property Partners LP
Brookfield Property Partners LP (TSX:BPY.UN)(NYSE:BPY) is one of the world’s largest owners of commercial real estate with a diversified portfolio that includes over 150 office properties and over 170 retail malls. It pays a quarterly dividend of US$0.28 per share, or US$1.12 per share annually, which gives its stock a yield of about 5.25% at today’s levels.
Investors must also note that Brookfield raised its annual distribution by 6% in 2015, and its 5.7% hike in February has it on pace for 2016 to mark the second consecutive year with an increase.
2. Emera Inc.
Emera Inc. (TSX:EMA) is one of the largest electric utilities companies in North America with operations in Canada, the United States, and the Caribbean. It pays a quarterly dividend of $0.475 per share, or $1.90 per share annually, which gives its stock a yield of about 4.05% at today’s levels.
It is also important for investors to make two notes.
First, Emera has raised its annual dividend payment for nine consecutive years, and its recent increases, including its 18.8% hike in August 2015, has it on pace for 2016 to mark the 10th consecutive year with an increase.
Second, the company has an annual dividend-growth target of 8% through 2019, and it has stated that its recent acquisitions could help it extend this target beyond 2019.
3. Cineplex Inc.
Cineplex Inc. (TSX:CGX) is Canada’s largest owner and operator of movie theatres with 162 theatres that serve approximately 77 million guests annually. It pays a monthly dividend of $0.13 per share, or $1.56 per share annually, which gives its stock a yield of about 3.1% at today’s levels.
It is also important for investors to make two notes.
First, Cineplex has raised its annual dividend payment for five consecutive years, and its 4% hike in May 2015 has it on pace for 2016 to mark the sixth consecutive year with an increase.
Second, the company traditionally announces its dividend hikes in May, and I think its increased amount of free cash flow, including its 7.8% year-over-year growth to an adjusted $2.492 per share in fiscal 2015, sets it up nicely to continue this tradition when it reports its first-quarter earnings results in two months.
Should you buy one of these mid caps today?
Brookfield Property Partners, Emera, and Cineplex are three of the best mid-cap dividend stocks your money can buy. All Foolish investors should strongly consider establishing long-term positions in one of them today.
