If you’re an income investor with cash on hand that you’re ready to put to work, then you’ve come to the right place. Let’s take a closer look at three top income stocks with yields up to 8.2% that you could buy right now.
Medical Facilities Corp.
Medical Facilities Corp. (TSX:DR) owns controlling interests in five specialty surgical hospitals in Arkansas, Indiana, Oklahoma, and South Dakota, as well as an ambulatory surgery centre in California. It also owns a controlling interest in Integrated Medical Delivery, a diversified healthcare service company located in Oklahoma that provides third-party business solutions to healthcare facilities, physicians, and insurance companies.
Medical Facilities pays a monthly dividend of $0.09375 per share, equal to $1.125 per share annually, which gives it an 8.2% yield today. Investors must also note that it has paid monthly dividends uninterrupted and without reduction for 160 consecutive months, and I think this makes it one of the most reliable income providers in the market today.
Granite Real Estate Investment Trust
Granite Real Estate Investment Trust (TSX:GRT.UN)(NYSE:GRP) is one of the largest owners and managers of industrial real estate in North America and Europe. Its portfolio currently consists of 92 income-producing properties that total about 30.1 million square feet of rentable space and are located across Canada, the United States, Austria, Germany, the Czech Republic, the Netherlands, Spain, the United Kingdom, and Poland.
Granite REIT pays a monthly distribution of $0.217 per unit, equal to $2.60 per unit annually, which gives it a 5.1% yield today. It’s also very important to note that it has raised its annual distribution for four consecutive years, and its 8.3% hike in November has it on pace for 2017 to mark the fifth consecutive year with an increase, which makes it both a high-yield and distribution-growth play today.
Keyera Corp.
Keyera Corp. (TSX:KEY) is one of the leading service providers to oil and gas producers in the Western Canada Sedimentary Basin. Its service offerings include natural gas gathering and processing, natural gas liquids fractionation, transportation, storage, and marketing, and iso-octane production and sales.
Keyera currently pays a monthly dividend of $0.14 per share, representing $1.68 per share annually, giving it a 4.2% yield. Investors must also note that the company has raised its annual dividend payment for seven consecutive years, and its 5.7% hike in May has it positioned for 2017 to mark the eighth consecutive year with an increase, making it both a high-yield and dividend-growth play like Granite REIT.
Is now the time for you to buy one of these income stocks?
I think Medical Facilities, Granite REIT, and Keyera are three of the best income stocks in their respective industries. Foolish investors should take a closer look at each and strongly consider initiating positions in at least one of them today.
