As we progress further into one of the longest bull markets in history, there is naturally some anxiety setting in for investors and portfolio managers. How much longer does the bull have to run?
Central banks claim that an unwinding of stimulus will take place in the coming years, and interest rates are rising in the U.S. and Canada.
In this period, it may be prudent to stash stocks that provide income to your portfolio. Let’s go over some of the highest-yielding dividend stocks available on the TSX.
Exchange Income Corporation (TSX:EIF) is an acquisition-oriented company focused on aviation services and equipment as well as manufacturing. The company aims to provide growth in cash dividends and stability, as well as look for capital growth and further acquisitions.
Exchange Income Corporation released its second-quarter results on July 19. Revenue climbed 20% to $273.1 million and net earnings increased 50% to $25.8 million compared to $17.2 million in Q2 2016.
The stock boasts a dividend of $0.17 per share, representing a 6.3% dividend yield.
Veresen Inc. (TSX:VSN) is a Calgary-based energy infrastructure company. The stock has increased 38% in 2017 as of close on September 20.
Veresen released its second-quarter results on August 2. The company entered an agreement with Pembina Pipeline Corp. in which Pembina acquired all issued and outstanding Veresen common shares.
Veresen experienced growth in generated distributable cash to $100 million from $94 million in Q2 2016. News of the Pembina purchase served as a massive boost to the stock, but it has been largely flat since the initial spike.
Veresen stock offers a dividend of $0.08 per share, representing a dividend yield of 5.5%.
Corus Entertainment Inc. (TSX:CJR.B) stock declined 3.35% on September 20, dipping below the $13 mark for the first time since mid-June. Corus Entertainment owns a number of specialty television services as well as Global Television Network.
It has boosted revenues with acquisitions in recent years, but I would consider this stock the riskiest of the stocks in this article. Corus is still carrying the torch of the legacy media, which is under assault by streaming providers and the decline in cable.
It boasts an attractive dividend of $0.09 per share, representing a dividend yield of 8.8%, but the high dividend is at risk of dipping in the future.
The company released its fourth-quarter results for 2017 on September 20. Revenue climbed to $637.3 million from $600.2 million in Q4 2016. Net income was also up to $6.5 million or $0.07 per share compared to $6 million or $0.06 per share the previous year. Low fuel costs and the elimination of 300 vehicles that will provide higher efficiency both helped the bottom line.
The stock offers an attractive dividend of $0.05 per share, representing a dividend yield of 8.3%.