Looking for dividend yields that are both safe and attractive is a difficult thing for most investors to do. With thousands of opportunities available to the average investor, I’m going to highlight four options available for income-oriented investors listed on the TSX.
Algonquin Power & Utilities Corp.
Perhaps one of the highest-growth options available on the list, Algonquin Power & Utilities Corp. (TSX:AQN)(NYSE:AQN) has produced powerhouse results for dividend investors over time. The company’s dividend is supported by an impressive acquisition-oriented growth model which has resulted in revenue and earnings which have doubled year-over-year, supporting substantial dividend growth each year.
Algonquin’s dividend in U.S. Dollars, making this an interesting currency play for investors who believe the Canadian Dollar may be due for a correction any time soon.
Fortis Inc.
One of the most stable dividend-oriented companies on the TSX, with over four decades of consistent dividend increases each year, Fortis Inc. (TSX:FTS)(NYSE:FTS) has remained a top long-term pick of mine for some time now. Fortis remains one of the most well-diversified utilities companies on the Canadian exchange, with a yield representative of some of the most well run utilities companies out there. With the company expanding its geographical reach and diversifying into the U.S. market, I expect long-term out-performance from Fortis relative to its peers.
Enbridge Inc.
There are few oil & gas related plays I would recommend at any given time, however Enbridge Inc. (TSX:ENB)(NYSE:ENB) is one of the few I would recommend investors take a look at for long-term income growth. The company has a substantial yield which has remained around the 5% level for some time, and will likely continue to do so, due to the ability of Enbridge to continuously raise its dividend. This past year, Enbridge raised its dividend again by 10%, and has increased its dividend each year for the past 20 years at a compound rate of 11.2%. This company has one of the best dividends out there for investors looking for long-term income appreciation.
For contrarian investors betting on an oil rebound, Enbridge is one of the safest options available in today’s volatile commodities market.
Shaw Communications Inc.
At a yield of 4.3%, Shaw Communications Inc. (TSX:SJR.B)(NYSE:SJR) rounds out my list of top dividend stocks every investor should take a look at. Shaw’s growth prospects simply trump those of its competitors, and with the critical investments the company’s management team is making in valuable infrastructure, I expect that Shaw’s management team will continue to chip away at market share in the profitable Canadian market.
Stay Foolish, my friends.
