If your portfolio lacks yield and you’re ready to do something about it, then you’ve come to the right place. I’ve scoured the market and selected four great dividend stocks with high and safe yields of 3-9%, so let’s take a quick look at each to determine which would fit best in your portfolio.
1. Valener Inc.
Valener Inc. (TSX:VNR) is a public company that serves as an investment vehicle in Gaz Metro, the largest distributor of natural gas in Quebec and Vermont, and Seigneurie de Beaupre Wind Farms, one of Canada’s largest wind-power facilities.
It pays a quarterly dividend of $0.27 per share, or $1.08 per share annually, giving its stock a yield of about 4.85% at today’s levels. It’s also important to note that the company’s 3.8% dividend hike in November 2015 has it on pace for 2016 to mark the second consecutive year in which it has raised its annual dividend payment, and it has a dividend-growth target of 4% annually through 2018.
2. Chartwell Retirement Residences
Chartwell Retirement Residences (TSX: CSH.UN) is Canada’s largest owner and operator of senior housing communities. It owns and manages over 170 communities, comprising of over 26,000 suites located across Ontario, Quebec, Alberta, and British Columbia.
It pays a monthly distribution of $0.046818 per share, or $0.561816 per share annually, giving its stock a yield of about 3.5% at today’s levels. It’s also important to note that the company’s 2% distribution hike in February has it on pace for 2016 to mark the second consecutive year in which it has raised its annual distribution.
3. American Hotel Income Properties REIT LP
American Hotel Income Properties REIT LP (TSX: HOT.UN) owns and operates 80 hotels, comprising of 7,072 guest rooms in 27 U.S. states. It has 45 of its hotels focused on serving the crews of railroad companies, and 35 of its hotels are located in close proximity to railroads, airports, highway interchanges, and other transportation hubs and stable demand generators.
It pays a monthly distribution US$0.054 per share, or US$0.648 per share annually, giving its stock a yield of about 8.1% at today’s levels. It’s also important to note that the company has maintained this annual rate since it went public in 2013, but it did convert to U.S. dollar–denominated distributions earlier this year.
4. Absolute Software
Absolute Software (TSX:ABT) is one of the world’s leading providers of persistent endpoint security and data risk-management solutions for computers, tablets, and smartphones.
It pays a quarterly dividend of $0.08 per share, or $0.32 per share annually, giving its stock a yield of about 4.6% at today’s levels. It’s also important to note that the company’s’ two dividend hikes since the start of fiscal 2015, including its 14.3% hike in November, have it on pace for fiscal 2016 to mark the third consecutive year in which it has raised its annual dividend payment.
