As income investors, we want to own stocks with high and reliable distributions, and after a thorough search of the market, I compiled a list of five great investment options. Let’s take a quick look at each, so you can determine which would fit best in your portfolio.
1. Artis Real Estate Investment Trust
Artis Real Estate Investment Trust (TSX: AX.UN) is one of North America’s largest owners and operators of commercial real estate with 194 properties located across Canada and 55 properties located across the United States.
It pays a monthly distribution of $0.09 per share, or $1.08 per share annually, which gives its stock a yield of about 8.3% at today’s levels. Investors should also note that the company has maintained this annual rate since 2009, and its consistent generation of adjusted funds from operations could allow it to continue to do so going forward.
2. Veresen Inc.
Veresen Inc. (TSX:VSN) is one of North America’s largest diversified energy infrastructure companies with assets including natural gas pipelines, processing plants, and fractionation plants.
It pays a monthly dividend of $0.0833 per share, or $1.00 per share annually, which gives its stock a yield of about 9.2% at today’s levels. Investors should also note that the company has maintained this annual rate since 2007, and its consistent generation of distributable cash could allow it to continue to do so for the foreseeable future.
3. Bird Construction Inc.
Bird Construction Inc. (TSX: BDT) is one of Canada’s largest general contractors with operational capabilities that cater to all stages of the construction process, including sustainable design, estimating, financing, scheduling, and construction.
It pays a monthly dividend of $0.0633 per share, or $0.76 per share annually, which gives its stock a yield of about 5.7% at today’s levels. Investors should also note that the company has maintained this annual rate since 2014, and its increased amount of operating cash flow could allow it to continue to do so going forward or allow it to announce a slight hike in the very near future.
4. Ag Growth International Inc.
Ag Growth International Inc. (TSX: AFN) is one of the world’s leading manufacturers and distributors of portable and stationary grain handling, storage, and conditioning equipment.
It pays a monthly dividend of $0.20 per share, or $2.40 per share annually, which gives its stock a yield of about 6.1% at today’s levels. Investors should also note that the company has maintained this annual rate since 2011, and its ample amount of funds from operations could allow it to continue to do so going forward.
5. Extendicare Inc.
Extendicare Inc. (TSX: EXE) is one of Canada’s leading providers of senior care services with 64 company-owned and 54 managed senior care and living centres across the country, and it also offers home healthcare options.
It pays a monthly dividend of $0.04 per share, or $0.48 per share annually, which gives its stock a yield of about 6.3% at today’s levels. Investors should also note that the company has maintained this annual rate since 2014, and its ample amount of adjusted funds from operations could allow it to continue to do so for many years to come.
