2 Top Stocks Yielding Over 3.5% to Buy and Hold

If you’re searching for great dividend stocks that you can buy and hold for decades, then I’ve got two that I think you will love. Let’s take a closer look at each, so you can determine if you should buy one or both of them today.

Brookfield Property Partners LP

Brookfield Property Partners LP (TSX:BPY.UN)(NYSE:BPY) is a diversified global real estate company. It owns, manages, and develops office, retail, multifamily, industrial, hospitality, triple net lease, and self-storage assets across North America, South America, Europe, Australia, and Asia.

Brookfield currently pays a quarterly distribution of US$0.295 per unit, equal to US$1.18 per unit annually, which gives it a 5% yield today.

Investors must also make the following two notes about Brookfield’s dividend.

First, the company has raised its annual distribution for two consecutive years, and its 5.4% hike in February has it positioned for 2017 to mark the third straight year with an increase.

Second, it has a long-term distribution-growth target of 5-8% annually, and I think its consistently strong financial performance, including its 9.7% year-over-year increase in funds from operations to US$0.34 per unit in the first quarter of 2017, will allow it to easily achieve this target into the late 2020s.

Royal Bank of Canada

Royal Bank of Canada (TSX:RY)(NYSE:RY), or RBC for short, is the second-largest bank in Canada as measured by assets with about $1.2 trillion worth as of April 30, 2017. It provides financial products and services to more than 16 million clients in Canada, the United States, and in over 30 other countries around the world.

RBC currently pays a quarterly dividend of $0.87 per share, equal to $3.48 per share annually, which gives it a yield of about 3.7% today.

It’s also important to make the following two notes.

First, RBC has raised its annual dividend payment for six consecutive years, and its recent hikes, including its 4.8% hike in February, have it on pace for 2017 to mark the seventh straight year with an increase.

Second, the company has a target dividend-payout range of 40-50% of its net income available to common shareholders, so I think its consistent growth, including its 16.7% year-over-year increase to $5.66 billion in the first six months of fiscal 2017, will allow its streak of annual dividend increases to continue for decades.

Which of these dividend stars belongs in your portfolio?

I think Brookfield Property Partners and RBC are two of the best dividend stocks in their respective industries, so take a closer look at each and strongly consider making at least one of them a core holding today.

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Fool contributor Joseph Solitro has no position in any stocks mentioned.

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