If you’re new to investing and are looking to build a dividend-based portfolio, then you’ve come to the right place. I’ve scoured the market and selected three great dividend stocks with yields of 4-7%, so let’s take a quick look at each to determine if you should invest in one or more of them today.
Morguard Real Estate Investment Trust
Morguard Real Estate Inv. (TSX:MRT.UN) is one of Canada’s largest commercial REITs. Its portfolio currently consists of 49 properties, including 28 office and industrial properties and 21 retail properties, which are located across six provinces and total about 8.7 million square feet of gross leasable area.
Morguard pays a monthly distribution of $0.08 per unit, equal to $0.96 per unit annually, which gives it a 6.8% yield today. Investors must also note that it has paid monthly distributions uninterrupted and without reduction since January 2005, and it has maintained its current monthly rate since March 2012, which means it’s a very reliable dividend payer.
Laurentian Bank of Canada
Laurentian Bank of Canada (TSX:LB) is one of Canada’s largest financial institutions with about $45.4 billion in assets as of April 30, 2017. It offers a broad range of financial products and services to individuals and businesses across the country.
Laurentian Bank currently pays a quarterly dividend of $0.62 per share, representing $2.48 per share annually, and this gives it a 4.6% yield. It’s also important to note that the company’s recent dividend hikes, including its 1.6% hike in May, have it on pace for 2017 to mark the 10th consecutive year in which it has raised its annual dividend payment, making it one of the best dividend-growth stocks in the financial sector today.
Enbridge Inc. (TSX:ENB)(NYSE:ENB) is the largest owner and operator energy infrastructure assets in North America. Its portfolio includes liquids pipelines, natural gas transmission pipelines, natural gas gathering pipelines, natural gas processing plants, crude oil storage terminals, gas storage facilities, natural gas liquids storage terminals, propane terminals, and renewable power generation facilities, which are located across Canada and the United States.
Enbridge currently pays a quarterly dividend of $0.61 per share, representing $2.44 per share annually, which gives it a yield of about 4.7%. Investors must also note that the company’s recent dividend hikes have it on pace for 2017 to mark the 22nd consecutive year in which it has raised its annual dividend payment, and it has a dividend-growth program in place that calls for annual growth of 10-12% through 2024, making it one of the best dividend-growth stocks in the market today.
Which of these dividend stocks belongs in your portfolio?
I think Morguard REIT, Laurentian Bank, and Enbridge are perfect dividend stocks for beginner investors, so take a closer look at each and strongly consider investing in at least one of them today.