If you’re interested in buying a great dividend stock or in building a portfolio full of them, then you’ve come to the right place. I’ve scoured the market and selected four high-quality dividend stocks from different industries with high and safe yields of 4-7%, so let’s take a quick look at each to determine if you should buy one or all of them today.
1. Brookfield Canada Office Properties
Brookfield Canada Office Properties (TSX:BOX.UN)(NYSE:BOXC) is one of Canada’s pre-eminent real estate investment trusts. Its portfolio consists of 26 premier office properties, comprising of approximately 20 million square feet in the downtown cores of Toronto, Calgary, and Ottawa.
Brookfield pays a monthly distribution of $0.1092 per share, or $1.31 per share annually, giving its stock a yield of approximately 4.5% at current levels. It has also raised its annual distribution for five consecutive years, and its 5.7% hike earlier this year has it on pace for 2016 to mark the sixth consecutive year with an increase.
2. Telus Corporation
Telus Corporation (TSX: T)(NYSE: TU) is Canada’s third-largest telecommunications company with 12.4 million customer connections, including 8.4 million wireless subscribers, 1.6 million high-speed internet subscribers, 1.4 million residential network access lines, and one million television subscribers.
Telus pays a quarterly dividend of $0.46 per share, or $1.84 per share annually, giving its stock a yield of approximately 4.25% at current levels.
It’s also important to make the following two notes about its dividend.
First, it has raised its annual dividend payment for 12 consecutive years, and its three hikes since the start of 2015 have it on pace for 2016 to mark the 13th consecutive year with an increase.
Second, it has a dividend-growth target of 7-10% annually through 2019.
3. Alaris Royalty Corp.
Alaris Royalty Corp. (TSX:AD) provides cash financing to private, successful businesses across North America that are in need of capital but are unwilling to give up equity or operational control in exchange for monthly cash distributions.
Alaris pays a monthly dividend of $0.135 per share, or $1.62 per share annually, giving its stock a yield of approximately 5.6% at current levels. It has also raised its annual dividend payment for five consecutive years, and its two hikes since the start of 2015 have it on pace for 2016 to mark the sixth consecutive year with an increase.
4. Chemtrade Logistics Income Fund
Chemtrade Logistics Income Fund (TSX: CHE.UN) provides industrial chemicals and services to customers in North America and around the world. It provides industrial chemicals such as sulfur, sodium chlorate, potassium chloride, and zinc oxide, and it provides services such as spent acid and hydrogen sulfide processing.
Chemtrade pays a monthly distribution of $0.10 per share, or $1.20 per share annually, giving its stock a yield of approximately 6.8% at current levels. It 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.
