One of the keys to success in investing is owning dividend-paying stocks, because as history has shown, they far outperform non-dividend-paying stocks over the long term. With this in mind, letâs take a look at four high-quality stocks with yields over 4% that you could buy right now.
1. Transcontinental Inc.
Transcontinental Inc. (TSX: TCL.A) is the largest printer in Canada and the third-largest printer in North America with operations in print, flexible packaging, publishing, and digital media.
It pays a quarterly dividend of $0.185 per share, or $0.74 per share annually, giving its stock a yield of about 4.2% at current levels. Investors must also note that it has raised its annual dividend payment for 14 consecutive years, and its two hikes since the start of 2015, including its 8.8% hike in March of this year, have it on pace for 2016 to mark the 15th consecutive year with an increase.
2. Smart REIT
Smart REIT (TSX: SRU.UN) is one of Canadaâs largest real estate investment trusts. It owns and manages 139 shopping centres across all 10 provinces that total approximately 31 million square feet.
It pays a monthly distribution of $0.1375 per share, or $1.65 per share annually, giving its stock a yield of about 4.3% at current levels. Investors must also note that it has raised its annual distribution for two consecutive years, and its 3.1% hike in October has it on pace for 2016 to mark the third consecutive year with an increase.
3. Bank of Montreal
Bank of Montreal (TSX: BMO)(NYSE: BMO) is the fourth-largest bank in Canada and the eighth-largest bank in North America with approximately $681.5 billion in assets as of April 30, 2016.
It pays a quarterly dividend of $0.86 per share, or $3.44 per share annually, giving its stock a yield of about 4.2% at current levels. Investors must also note that it has raised its annual dividend payment for four consecutive years, and its four dividend hikes since the start of 2015, including its 2.4% hike in May of this year, have it on pace for 2016 to mark the fifth consecutive year with an increase.
4. Innergex Renewable Energy Inc.
Innergex Renewable Energy Inc. (TSX: INE) is one of North Americaâs largest independent renewable power producers. It develops, owns, and operates run-of-river hydroelectric facilities, wind farms, and solar photovoltaic farms in Canada and the United States.
It pays a quarterly dividend of $0.16 per share, or $0.64 per share annually, giving its stock a yield of about 4.4% at current levels. Investors must also note that it has raised its annual dividend payment for two consecutive years, and its 3.2% hike in February has it on pace for 2016 to mark the third consecutive year with an increase.
